KOCHI: The Ministry of Corporate Affairs has stated in a report that the SNDP Yogam falls entirely under the Companies Act, 2013. The Supreme Court had directed the ministry to take a decision on an appeal concerning the matter.
The Kerala Non-Trading Companies Act, 1961, is not applicable to the SNDP Yogam. The exemption granted in 1974 allowing one representative for every 200 members to exercise voting rights remains in force, according to the report submitted by Anshuman Pattnaik, Additional Secretary in the Ministry of Corporate Affairs.
The report states that the Yogam must approach the Registrar of Companies for all matters, including amendments to its Memorandum of Association and Articles of Association and the submission of annual reports. It further clarifies that the Central law applies because the SNDP Yogam operates in other states as well as outside India.
A Division Bench of the Kerala High Court had directed the Ministry of Corporate Affairs to examine which law applies to the Yogam. While hearing an appeal challenging this direction, the Supreme Court also instructed the ministry to hear all concerned parties and take a decision before November 19. The report was prepared after hearing eight parties, including the SNDP Yogam, the Chief Secretary and the Inspector General of the Registration Department. The Supreme Court will consider the case again on November 19, and the report will be submitted before then.
The report by the Ministry of Corporate Affairs is a response to those who attempted to bring the SNDP Yogam under receiver administration. The recognition of the representative voting system is also welcome.
— Vellappally Natesan
General Secretary, SNDP Yogam
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