Standing Order No. 1868/2019 of the Finance Department, Government of Kerala dated 22nd December, 2019 on the management of a company [C1P-V8V]

Standing Order No. 1868/2019

GOVERNMENT OF KERALA

Finance Department, Government of Kerala

Thiruvananthapuram, dated the 22nd December, 2019

STANDING ORDER

To

All Deputies Registrar of Companies,

Subject: The management of a company by directors under the Kerala Chitties Act, 1975, regarding.

In exercise of the powers conferred by section 9 of the Kerala Chitties Act, 1975 (Kerala Act 23 of 1975), the Finance Department, Government of Kerala hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to the management of a company by directors.

2. The matter has been examined. Every director carrying on the management of a company shall make an application in Form PAS-3 to the Official Liquidator within thirty days, accompanied by a fee of ten thousand rupees.

3. The Deputy Registrar of Companies shall ensure that share is dealt with as directed above, and shall report compliance to the Official Liquidator within thirty days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the Finance Department, Government of Kerala.

(Secretary to Government)