Under Section 245 Companies Act 2013 (CLASS ACTION), an application to…

Question

Under Section 245 Companies Act 2013 (CLASS ACTION), an application to the NCLT may be filed by:

Accepted Answer

B. such number of members or depositors as may be prescribed — at least 100 members / 5% of members (less of), or members holding not less than 5% of issued share capital (for listed); and 100 depositors / 5% of total depositors, or depositors of not less than 5% of total outstanding deposits

1. Section 245 Companies Act 2013 introduced CLASS ACTION proceedings (after Satyam scandal). Section 245(3) prescribes the qualifying numbers.
2. Rule 84 Companies (Management and Administration) Rules 2014: (a) MEMBERS — at least (i) 100 MEMBERS of the company; or (ii) such percentage of the total number of members as may be prescribed (5% in case of listed companies, 5% in case of unlisted); or (iii) members holding not less than 5% of issued share capital (listed) / 5% of issued share capital (unlisted); (b) DEPOSITORS — at least (i) 100 depositors; or (ii) 5% of total depositors; or (iii) depositors holding 5% of total outstanding deposits.
3. Relief: restrain ultra vires acts, declare resolutions void, claim damages from auditors, directors, experts, etc.
4. Hence option B is correct.
_Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Section 245(3); Companies (Management and Administration) Rules 2014 Rule 84_

Answer

any individual employee of the company in his personal capacity, regardless of shareholding (cf. Companies Act 2013, Section 245(3); Companies (Management and Administration) Rules 2014 Rule 84) (cf. Companies Act 2013, Section 245(3); Companies (Management and Administration) Rules 2014 Rule 84)

Answer

only the Registrar of Companies on his own motion in any company affairs (cf. Companies Act 2013, Section 245(3); Companies (Management and Administration) Rules 2014 Rule 84) (cf. Companies Act 2013, Section 245(3); Companies (Management and Administration) Rules 2014 Rule 84)

Answer

only the Central Government in the public interest, with no shareholder participation (cf. Companies Act 2013, Section 245(3); Companies (Management and Administration) Rules 2014 Rule 84) (cf. Companies Act 2013, Section 245(3); Companies (Management and Administration) Rules 2014 Rule 84)