Rules and Regulations of India

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13. Section 399(4)

(1) Every application under sub-section (4) of section 399 to the Central Government by any members of a company who wish to be authorized to apply to the 37[Company Law Board] shall specify-

(a) the names and addresses of the applicants;

(b) if the company has a share capital, the voting power held by each applicant;

(c) the total number of applicants;

(d) their total voting power; and

(e) the reasons for making the application.

(2) The reasons given in pursuance of clause (e) of sub-rule (1) shall be precise and specific.

(3) Every such application shall be accompanied by such documentary evidence in support of the statements made therein as are reasonably open to the applicants.

(4) Every such application shall be signed by the applicants and shall be verified by their affidavit stating that paragraphs thereof are true to their knowledge and paragraphs to the best of their information and belief.

(5) The Central Government may, before passing orders on the application, require the applicants or any one or more of them, to produce such further documentary or other evidence as the Central Government may consider necessary-

(a) for the purpose of satisfying itself as to the truth of the allegations made in the application; or

(b) for ascertaining any information which, in the opinion of the Central Government, is necessary for the purpose of enabling it to pass orders on the application.

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