K.K.Balu, - (1.) THE petition in C.P. No. 362/2002 under Section 141 of the Companies Act, 1956 (the 'Act') is filed on 17.08.2001 by M/s. State Bank of India (SBI) for condonation of delay and extension of time for filing the particulars of modification of a charge made on 13.01.2000. THE original charge was created on 20.11.1995 for Rs. 75 Lakhs by M/s. Sakthi Cotton Process Private Limited ("the company") in favour of SBI. THE modification relates to giving additional security. THE particulars of the said modification should have been filed with the Registrar of Companies, Karnataka, Bangalore in terms of Section 135 of the Act on or before 12.02.2000 whereas, the same were filed on 04.07.2001 with a delay of 508 days.
(2.) The petition in C.P. No. 364/2002 under Section 141 of the Act is filed on 13.06.2001 by M/s. State Bank of Mysore (SBM) for condonation of delay and extension of time for filing the particulars of modification of a charge made on 02.11.1997. The original charge was created on 01.02.1997 for Rs. 35 Lakhs by M/s. Asia Flora Limited ("the company") in favour of SBM. The modification relates to giving additional security by way of deposit of title deeds. The particulars of the said modification should have been filed with the Registrar of Companies, Andhra Pradesh, Hyderabad in terms of Section 135 of the Act on or before 02.12.1997 whereas, the same were filed on 19.04.2001 with a delay of 1232 days. The petition came up for hearing from time to time and finally on 27.01.2003. As the issues involved in both these petitions are one and the same, they are disposed of by this common order with concurrence of the Authorised Representatives of SBI and SBM.
(3.) THE Registrar of Companies, Karnataka, Bangalore and the Registrar of Companies, Andhra Pradesh, Hyderabad by their reports dated 06.09.2001 have no objection for the petitions being allowed by the Company Law Board (CLB).;