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India Updates
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SETTLING INVESTORS GRIEVANCES
New Delhi ~ June 26 2001
The Investors Protection Cell in the Department of Company Affairs (DCA) settled 536 complaints of investors satisfactorily during May 2001. All these complaints belonged to individual investors.
During the month the Regional Benches of the Company Law Board (CLB) passed orders for payment of deposits in 182 applications under Section 58A of the Companies Act 1956 and Section 45Q (2) of the Reserve Bank of India Act 1934. Under other Sections of the Companies Act 279 applications were disposed of.
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