Company Law Board authority to compel repayment of public deposits; non-compliance attracts criminal penalties and fines. Company Law Board may direct repayment of public deposits unpaid on maturity after hearing, specify time and conditions for repayment, and non compliance is a punishable offence attracting imprisonment and fine; aggrieved depositors may apply in the prescribed form to the appropriate Bench with the prescribed fee, subject to statutory exclusions for certain transactions and classes of companies, and civil remedies remain available.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Company Law Board authority to compel repayment of public deposits; non-compliance attracts criminal penalties and fines.
Company Law Board may direct repayment of public deposits unpaid on maturity after hearing, specify time and conditions for repayment, and non compliance is a punishable offence attracting imprisonment and fine; aggrieved depositors may apply in the prescribed form to the appropriate Bench with the prescribed fee, subject to statutory exclusions for certain transactions and classes of companies, and civil remedies remain available.
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