Circular CCI/CIR/2011/4710 of the Competition Commission of India dated 2nd January, 2011 on the representation of a shareholder on a board [C18-RHB]

CCI/CIR/2011/4710

Competition Commission of India

New Delhi, dated the 2nd January, 2011

CIRCULAR

To

All Registrars of Companies,

Subject: The representation of a shareholder on a board by nominee directors under the Competition Act, 2003, regarding.

In exercise of the powers conferred by section 9 of the Competition Act, 2003 (12 of 2003), the Competition Commission of India hereby issues the following

1. References have been received seeking clarification on the manner in which section 9 applies to the representation of a shareholder on a board by nominee directors.

2. The matter has been examined. Every nominee director carrying on the representation of a shareholder on a board shall make an application in Form AOC-4 to the Competition Commission within ninety days, accompanied by a fee of two hundred rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the representation of a shareholder on a board is undertaken, and the Competition Commission shall dispose of it within ninety days of its receipt.

4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Competition Commission of India.

(Chief General Manager)