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Role of CLB in capital market

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

The CLB is a quasi-judicial body, set up by the Central Government u/s 10E of the Companies Act, 1956 exercising equitable jurisdiction, which was earlier being exercised by the High Court or the Central Government.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Company Law Board The Company Law Board addresses the investor grievances & it can proceed against a company on its own. The CLB is a quasi-judicial body, set up by the Central Government u/s 10E of the Companies Act, 1956 exercising equitable jurisdiction, which was earlier being exercised by the High Court or the Central Government. The Board has powers to regulate its own procedures. The Company Law Board has framed “Company Law Board Regulations 1991” prescribing the procedure for filing the applications/petitions before it. The Central Government has also prescribed the fees for making applications/petitions before the Company Law Board, under the “Company Law Board, (Fees on applications and Petitions) Rules 1991”. Thanks

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