(3)Where a company has made a default in repayment of any deposit or part thereof or any interest thereon to a small depositor, the [Tribunal] [Substituted by Act 11 of 2003, Section 10, for " Company Law Board" and " the Board" . ], on receipt of intimation under sub-section (1) shall-(a)exercise, on its own motion, powers conferred upon it by sub-section (9) of section 58-A;(b)pass an appropriate order within a period of thirty days from the date of receipt of intimation under sub-section (1):Provided that the [Tribunal] [Substituted by Act 11 of 2003, Section 10, for " the Board" . ] may pass order after expiry of the period of thirty days, after giving the small depositors an opportunity of being heard:Provided further that it shall not be necessary for a small depositor to be present at the hearing of the proceeding under this sub-section.
