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20. After the scheme order, Company Law Board has reviewed the progress of scheme order and finally passed an order on 2-12-2004 directing the Registrar of Companies, Andhra Pradesh, Hyderabad to take appropriate action against the company and its Directors for violation of the Scheme Order.

21. For better understanding, I feel it is necessary to extract the order of the Company Law Board dated 2nd December, 2004 which is as follows:

"This Bench by an order dated 29-2-2000 made in CP No.35/2000 approved a scheme of repayment of deposits by the Company over a period of 5-36 months in respect of 85,160 deposits involving an aggregate sum of Rs.9,837.30 lakhs. The progress made by the Company in repayment of deposits is being reviewed from time to time. During the hearing held on 02.12.2004 none appeared on behalf of the Company, furnishing the details of up-to-date repayment made by the company in favour of the depositors. The notice sent to Company has been returned by postal department with remarks "office closed". The Company neither filed any status report by way of an affidavit in accordance with the order dated 29.2.2000. However as per the last affidavit dated 05.01.2004 of the Company, the Company has repaid only sum of Rs.5480.09 lakhs as at 31.12.2003 as against Rs.9837.30 Lakhs. A number of complaints are being received against the Company for non-repayment of deposits and further applications under Section 634A of the Companies Act, 1956 are received to enforce the scheme order. This Bench has so far received 740 such applications, wherein appropriate orders have been passed transferring the scheme order in respect of 724 applications to the competent forum for execution. It is beyond doubt that the Company and its directors failed to repay the deposits in terms of the Scheme approved by this Bench, thereby the depositors are seriously prejudiced. In these circumstances, the Registrar of Companies, Andhra Pradesh, Hyderabad will take appropriate action against the Company and its directors under the provisions of Section 58A(9) of the Act for violation of the scheme order approved by this Bench."