Indemnity bond for government companies permits authorised ministry representatives to guarantee claims and liabilities on striking off. The Amendment Rules permit a duly notarised Indemnity Bond in Form STK-3A, executed by an authorised representative (not below Under Secretary or equivalent) of the administrative Ministry/Department, to be furnished on behalf of wholly government-owned companies or their wholly owned subsidiaries when applying for striking off under rule 4; the bond undertakes to indemnify claimants and any persons for future claims, losses from striking off, and latent liabilities discovered after striking off, and must be accompanied by the Ministry/Department authorisation. Form STK-2's attachments list is amended to allow Form STK-3A.
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.
Indemnity bond for government companies permits authorised ministry representatives to guarantee claims and liabilities on striking off.
The Amendment Rules permit a duly notarised Indemnity Bond in Form STK-3A, executed by an authorised representative (not below Under Secretary or equivalent) of the administrative Ministry/Department, to be furnished on behalf of wholly government-owned companies or their wholly owned subsidiaries when applying for striking off under rule 4; the bond undertakes to indemnify claimants and any persons for future claims, losses from striking off, and latent liabilities discovered after striking off, and must be accompanied by the Ministry/Department authorisation. Form STK-2's attachments list is amended to allow Form STK-3A.
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