companyliquidator.gov.in Scheme of Empanelment of Security Agencies : Ministry of Corporate Affairs

Organisation : Ministry of Corporate Affairs
Facility : Scheme of Empanelment of Security Agencies

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SCHEME FOR THE APPOINTMENT, SELECTION AND EMPANELMENT OF THE SECURITY AGENCIES, :
In exercise of the powers conferred under sub-Section 3 of Section 457 read with the clause (d) of sub-section (1) of Section 457 of the Companies Act, 1956, the Company Court, the Hon’ble High Court of Gujarat, approves the following Scheme for the appointment, selection and empanelment of Security Agencies by the Official Liquidator, namely :

Short Title And Commencement :
** This Scheme may be called the “Scheme for the Appointment, Selection and Empanelment of the Security Agencies, 2010-11.”
** This Scheme shall come into force from the date it is approved or notified by the Company Court.

Purpose Of The Scheme :
The purpose of the Scheme is to lay down the process in general for the selection and appointment of the Security Agencies for providing security to the properties of the Companies (in liquidation).

Definitions :
** “Company (in liquidation)” means a company against which petition has been filed for liquidation and the orders have been passed by the Company Court for its liquidation in exercise of powers conferred by Section 443 & 444 of the Companies Act, 1956.
** “Company (in Liquidation) Fund” means the fund maintained in the Companies Cash Book as per the Rule 286 of the Companies (Court) Rules, 1959.
** “Company Court” means the Bench of the High Court of Gujarat, constituted to deal with winding up proceedings, compulsory liquidation of the Companies and all such matters referred to in the Act.
** “Official Liquidator” means liquidator appointed under Section 448 of the Companies Act, 1956 and attached to the Company Court.
** “Tender” means a tender notice issued by the Official Liquidator for inviting bids for empanelling the Security Agencies, for providing security cover to the properties of the Companies (in liquidation)
** “Security Agency” means a firm or a concern or company which professes to provide security cover to the industrial units and other establishments and has the infrastructure and the capacity to provide such services.
** “Empanelled Security Agency” means a Security Agency which has been empanelled in accordance with the provisions of this Scheme.

Publication Of Tender :
The Official Liquidator shall publish a Tender Notice in two or more National English Dailies and a Gujarati Daily having circulation in Gujarat and other neighboring States, inviting the Security Agencies to apply for being empanelled as a Security Agency to provide security cover to the properties of the Companies (in Liquidation).

Form Of Tender Notice And Conditions For Empanelling Security Agencies :
The tender for empanelling Security Agencies shall be published in such form, lying down such terms and conditions as may be approved by the Company Court.

Period For Panel Of The Security Agency :
A panel for engaging a Security Agency, once constituted, shall be available for two years from the date of its approval by the Company Court or for the period as may be directed by the Company Court.

Committee For Empaneling The Security Agency :
On receipt of the tenders from the Security Agencies in terms of the notice for inviting tenders for the empanelment of Security Agencies, the Company Court shall constitute a committee of the following members for recommending the panel of Security Agencies.
** Official Liquidator
** Any person having the experience and the expertise in the issues relating to providing security to the industrial units and other establishment; and
** Two other members nominated by the Company

Considering For The Empaneling Of The Security Agencies :
The Committee shall at the time of making the recommendation for the empanelment of Security Agencies shall take into consideration such factors as may be considered relevant including :
** The past record of the Security Agency;
** The capacity for providing the service;
** Willingness to abide by the terms and conditions laid by the Company Court or the Official Liquidator for providing the security cover.
** Compensation at which Security Agency is willing to provide the service; and
** License under “The Private Security Agencies (Regulations) Act, 2005.