In the matter of Companies Act, 1956And

Sec. 58A(9)

BEFORE THE COMPANY LAW BOARD, MUMBAI BENCH.PRESENT: SMT. VIMLA YADAV, MEMBER

In the matter of Mis. MICRO TECHNONOGICES (INDIA) LIMITED.having its registered office at 46-C, Electornic Sadan No.1, Mahape, NaviMumbai- 400 705.

AndCompany Application Nos. 820/58A (9)/CLB/MB/2013

Order(Heard on 30.08.2013)

Listed before me one application received in June, 2013 involving one Depositoras above. The applicant depositor has made this application under Sec. 58A(9) ofthe Companies Act, 1956 as the company has failed to repay his deposits as perthe terms and conditions of acceptance of deposits. The applicant depositor hasprayed that necessary directions may be issued to the company Mis. MicroTechnologies (India) Limited to repay his deposit at contracted rate till the dateof repayment. The company has, however, not disputed the claim of the applicantdepositor.

2. The above application was listed on 01.08.2012, when it was ordered that:"None attended. R-J Company is hereby required to repay deposit and interestthereon within three weeks. Adjourned to 23.08.2013 at 2.30 p.m. B.O to servethis order on the respondent and the Applicant". Thereafter on 23.08.2013 againmatter was adjourned to 30.08.2013 at 1l.30. None attended on behalf of theCompany and depositor.

3. Perusing the application listed before me today it is noted that there isfailure on the part of the company to repay the depositor as per the terms andconditions of acceptance. This Bench is of the clear opinion that the RespondentCompany has defaulted in re-payment of the deposit amount along with interest.

4. In view of the genuine claim of the applicant and also in exercise ofpowers conferred under section 58A(9) of the Companies Act, 1956, I herebydirect the company as under:

i) The company shall make the repayment of fixed deposit with updatedinterest thereon to ositor by 05.10.2013.

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iii) The company shall file an affidavit of compliance with the CLB by10.10.2013 to the effect that it has repaid the deposits to the said depositor. Acopy of Affidavit be sent to the Registrar of Companies, Mumbai Maharashtra aswell.

ii) The company shall make repayment of Deposit with interest till therepayment date by Demand Draft which shall be sent by Registered Post to thesaid applicant depositor.

vi) In the event of non compliance of this order, the Registrar of Companies,Mumbai Maharashtra, 100, Everest Building, Marine Drive, Mumbai-2 shallinitiate prosecution proceedings. against the company and its every officerincluding the Mg. Director of the company on or before 30.11.2013.

iv) Any failure to comply with this order on the part of the RespondentCompany shall attract the penal provisions contained in sub-section 10 ofSec.58A of the Companies Act, 1956.

v) . The Bench Officer shall forward a copy of this order to the Registrar ofCompanies, Mumbai also.

Ordered accordingly,

Dated this 30th Day of August, 2013(Vimla Yadav)

MEMBER

CERTIFIED TO BE TRUE copyr

s. P. SAWANT, ICLSBend, Off'\cer

Company LaW BoardMurnbai Bench

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