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of <h1>Company Law Board Can Order Repayment of Matured Deposits Under Amended Section 58A of Companies Act, 1988.</h1> The Company Law Board is authorized to mandate companies to repay matured deposits, following amendments to Section 58A of the Companies Act, 1988. Effective from September 1, 1989, non-compliance with such orders can lead to imprisonment up to three years and a daily fine of at least Rs. 50. Aggrieved depositors can apply to the Company Law Board with a fee of Rs. 50 at designated regional offices. The amendments apply to deposits matured before their enactment. The Board can also initiate orders independently if deemed necessary. Applications can be submitted in person or by mail.
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