Schedule VI amendment compliance enforced for financial years ending on or after year-end; companies may seek statutory exemptions for hardship.
The October 1973 notification clarifies additional disclosure requirements under Schedule VI, which principally entail extracting information from books already required to be kept; strict enforcement of these new requirements will be applied only to financial years ending on or after 31-12-1973, while companies adversely affected may seek exemption through the statutory hardship procedure.

Unclaimed dividend procedure: official liquidator must transfer unencashed cheque balances into Companies Liquidation Account within specified timeframe.
The official liquidator must monitor unencashed dividend or share-capital cheques, obtain an account statement from the State Bank of India, withdraw unclaimed balances and remit them into the Companies Liquidation Account with the Reserve Bank of India, update the Dividend Paid Register with cheque particulars indicating non-encashment and deposit, and file a supplementary statement with the Registrar; these withdrawals and remittances should be completed within 10 days from expiry of the encashment period.

Condonation of delay: Registrar to accept delayed liquidation filings on fees and assess need for court application.
Registrars must accept delayed liquidation statements on payment of the prescribed fee and any additional late fee, then assess each case to decide whether to advise the Liquidator to seek court condonation; very short or excusable delays need not prompt advice to apply for condonation or prosecution.

Loans during exemption counted: must be included when computing statutory ceiling under section 370 provisions.
Loans advanced while a company was exempted under sub section (2) of section 370 are to be taken into account when computing the ceiling prescribed in the second proviso to sub section (1) of section 370; loans made during the exempted period are not excluded from the ceiling calculation.

Identity of interests in amalgamation requires both transferor and transferee to obtain separate judicial directions when incorporated in different jurisdictions.
Where an amalgamation creates an identity of interests between transferor and transferee, approval of shareholders of both companies is required and both companies should apply under the relevant statutory provisions; if companies are incorporated in different States, each should seek its respective High Court's directions under the Companies (Court) Rules, while if both are in the same State the petitioning company should make the other a party to the petition.

Interpretation of "every three months" confirms boards must hold at least one meeting within each successive three month period.
Interpretation of the timing requirement treats "every three months" as three months taken together: the board meets at least once within each consecutive three month period (any date within that span suffices), and compliance is assessed prospectively by reference to successive three month intervals rather than by retrospective calculations.

Condonation of delayed filing of liquidator statements rests with the court; Registrar may accept belated filings on payment.
Delay in filing liquidator statements cannot be condoned by the Central Government and must be addressed by the court under the court rule; failure to file is punishable and the liquidator should seek the court's leave. The Registrar may accept belated statements on payment of an additional fee, but acceptance does not remove the default or its consequences. A prior exemption from filing fees for certain liquidator documents has been withdrawn.

Winding up petitions: require management confirmation of creditor complaints and present ability to meet liabilities before sanctioning.
Regional Directors must not approve presentation of winding up petitions solely on account of historical accounts showing excess liabilities; they must ask company management whether creditors have complained about non payment, whether the company can meet current liabilities, and if so, how, to ensure the petition has a sound factual basis.

Share certificate not an official publication; treated as movable certificate of title rather than prospectus or statutory publication.
Sections 82-84 establish that shares are movable property transferable under the articles, each share numbered, and a company-sealed certificate is prima facie evidence of title; consequently a share certificate is a certificate of title and a movable item, not an official publication within the meaning of section 147(1)(c).