What is Powers of Central Government or Tribunal to accord approval, etc., subject to conditions and to prescribe fees on applications What is Condonation of delay in certain cases Section 459 and 460 of Indian Companies Act 2013

Powers of Central Government or Tribunal to accord approval, etc., subject to conditions and to prescribe fees on applications Condonation of delay in certain cases are defined under Section 459  and 460 of Indian Companies Act 2013. Provisions under these Sections are:

 

Section 459 of Indian Companies Act 2013 "Powers of Central Government or Tribunal to accord approval, etc., subject to conditions and to prescribe fees on applications"

(1) Where the Central Government or the Tribunal is required or authorised by any provision of this Act -

(a) to accord approval, sanction, consent, confirmation or recognition to, or in relation to, any matter; or

(b) to give any direction in relation to any matter; or

(c) to grant any exemption in relation to any matter,


 

then, the Central Government or the Tribunal may in the absence of anything to the contrary contained in that provision or any other provision of this Act, accord, give or grant such approval, sanction, consent, confirmation, recognition, direction or exemption, subject to such conditions, limitations or restrictions as it may think fit to impose and may, in the case of a contravention of any such condition, limitation or restriction, rescind or withdraw such approval, sanction, consent, confirmation, recognition, direction or exemption.

(2) Save as otherwise provided in this Act, every application which may be, or is required to be, made to the Central Government or the Tribunal under any provision of this Act -

(a) in respect of any approval, sanction, consent, confirmation or recognition to be accorded by that Government or the Tribunal to, or in relation to, any matter; or

(b) in respect of any direction or exemption to be given or granted by that Government or the Tribunal in relation to any matter; or

(c) in respect of any other matter, shall be accompanied by such fees as may be prescribed:

Provided that different fees may be prescribed for applications in respect of different matters or in case of applications by different classes of companies.

 

Section 460 of Indian Companies Act 2013 "Condonation of delay in certain cases"

Notwithstanding anything contained in this Act, -

(a) where any application required to be made to the Central Government under any provision of this Act in respect of any matter is not made within the time specified therein, that Government may, for reasons to be recorded in writing, condone the delay; and

(b) where any document required to be filed with the Registrar under any provision of this Act is not filed within the time specified therein, the Central Government may, for reasons to be recorded in writing, condone the delay.

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