Form No. 38 Companies Act 1956 Template

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FORM NO. 38 OF THE COMPANIES ACT, 1956

Need a compliant FORM NO. 38 of the Companies Act, 1956 format to file your receiver’s abstract of receipts and payments effortlessly? Our ready-to-use legal template simplifies compliance for receivers in India.

What is FORM NO. 38 under the Companies Act, 1956?

FORM NO. 38 of the Companies Act, 1956 is a mandatory statutory form prescribed under Section 421 for receivers and managers appointed by the court or under debenture trust deeds. This form requires the submission of a half-yearly abstract of receipts and payments, ensuring transparency in the management of company assets during receivership. Whether you're handling insolvency proceedings or secured creditor enforcements, this FORM NO. 38 format is essential for legal filings with the Registrar of Companies (ROC) in India.

It's particularly relevant for companies under the erstwhile Companies Act, 1956, though many provisions carry forward into the Companies Act, 2013. Download our customizable FORM NO. 38 sample in PDF or Word format to meet ROC requirements accurately.

Why is FORM NO. 38 Important?

Filing FORM NO. 38 is crucial for maintaining legal compliance and accountability. Non-submission can lead to penalties, including fines up to ₹500 per day of default under the Act. It provides stakeholders—creditors, shareholders, and courts—with a clear overview of financial transactions, preventing mismanagement allegations. In business recovery or liquidation scenarios, this form acts as a vital record, supporting audits and court oversight. Using a professional FORM NO. 38 of the Companies Act, 1956 template ensures accuracy, saving time and reducing errors in complex receivership accounts.

Key Elements of FORM NO. 38 Format

A standard FORM NO. 38 legal template includes:

Header Details: Company name, receiver’s name, appointment date, and period covered (half-yearly).
Schedule of Receipts: Breakdown of cash received from trading, debts, asset sales, etc.
Schedule of Payments: Detailed payments for salaries, trade creditors, secured debts, legal expenses, and distributions.
Balance Sheet Abstract: Assets, liabilities, and fund balances as on the last date.
Certification: Receiver’s declaration verifying the accuracy of accounts.
Annexures: Vouchers, ledgers, or additional statements as required.

Our editable FORM NO. 38 sample incorporates all these sections, formatted precisely per the Companies Act, 1956 rules, making it ready to use for Indian filings.

Who Should Use FORM NO. 38 of the Companies Act, 1956?

This form is indispensable for:

Receivers/managers appointed by courts in winding-up or execution proceedings.
Receivers under debenture trust deeds for secured lenders like banks or financial institutions.
Company secretaries, chartered accountants, or legal professionals handling corporate insolvency in India.
Businesses in manufacturing, finance, or real estate facing debt recovery actions.

Common use cases include enforcement of security interests, asset reconstruction, and interim management during disputes.

Download Your Customizable FORM NO. 38 Template Now!

Get instant access to our premium FORM NO. 38 of the Companies Act, 1956 format in PDF/Word—fully customizable and AI-optimized for precision. Perfect for quick filings, no more struggling with blank forms. Avail free download previews or upgrade for unlimited edits and legal support.

Important Note

While our FORM NO. 38 legal template is designed by experts to match court and ROC standards in India, it's recommended to consult a qualified company secretary or lawyer for specific customizations. This ready-to-use document streamlines your process but isn't a substitute for professional legal advice. Explore related templates like Form 36, receiver’s valuation reports, or Companies Act compliance kits for comprehensive corporate governance.

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FORM NO. 38 OF THE COMPANIES ACT, 1956

Non-Judicial

FORM No. 38

Registration No. of Company_____________________

THE COMPANIES ACT, 1956

Application by an existing company (not being a joint stock company)for registration as a limited/an unlimited company

[Pursuant to sections 565 and 568]

Name of Company_________________________________________________________

_______________________________________________________________________.

Application by(a)___________________________________________________

for registration as a Limited Company/Private Limited Company/an Unlimited Company under the Companies Act, 1956.

(a)_________________________________________________________________

constituted by__________(') dated the________.. day of___________. 19______(copy whereof is in Annexure 1 hereto) desires to register.itself as a company limited by shares a

company limited by guarantee/an unlimited company under the Companies Act, 1,956,with the name of____________Company Limited/Company Private Limited and for that purpose delivers the documents specified in annexed the forms hereto for registration under the said Act.

Signature

Designation

Dated the_________________day of___________.19____________

ANNEXURES

Annexure	I ________	Copy of the instrument constituting or regulating the company.
Annexure	II________	List showing the names, addresses and occupations of the directors, and the manager, if the company () _______..
Annexure	IV________	Copy of resolution of company assenting to its registration as a limited company required by section 565(1) proviso, clause (v)
Annexure	V ________	Copy of resolution of the company assenting to its :registration, as a company limited by guarantee required by section 565(1), proviso, clause (vii)
Annexure	VI________	*******]

Insert name of the company.
Here enter the description of the instrument constituting or regulating the company.
State whether director, Managing Director, Manager or Secretary.
Vide Form No. 42.
Vide Form No. 41.

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Important Guidelines

Guidelines for Drafting FORM NO. 38 OF THE COMPANIES ACT, 1956

Where it is Used: Form No. 38 is used under the Companies Act, 1956, for filing an application to the Company Law Board for the issue of redeemable preference shares. This form is essential when a company intends to issue preference shares that are redeemable after a specified period.

Guidelines:

Accurate Information: Provide precise details about the company, the proposed redeemable preference shares, and the terms of redemption. Accuracy is crucial for legal compliance.

Terms of Redemption: Clearly outline the terms and conditions of the redemption, including the redemption date, redemption premium, and any relevant provisions.

Legal Compliance: Ensure the form aligns with the legal requirements stipulated in the Companies Act, 1956, for the issue of redeemable preference shares. Seek legal advice to confirm compliance.

Board Resolution: Include a board resolution supporting the application for the issue of redeemable preference shares. Document the resolution in compliance with legal formalities.

Common Mistakes to Avoid:

Incomplete Information: Fill out all sections of Form No. 38 thoroughly. Any omissions or incomplete details may lead to rejection or delays in processing.

Mismatched Information: Ensure consistency across the form. Information in different sections should align to avoid discrepancies.

Failure to Attach Necessary Documents: Include all required supporting documents, such as the board resolution and any other documents specified in the form. Failure to do so may result in non-compliance.

Ignoring Legal Formalities: Be aware of the specific legal formalities and timelines associated with filing the application. Failure to comply may result in legal complications.

Form No. 38 is crucial for companies seeking to issue redeemable preference shares. Adherence to these guidelines ensures a comprehensive and accurate filing, minimizing the risk of legal complications and promoting regulatory compliance.

Frequently asked questions

What is the purpose of Form No. 38 under the Companies Act, 1956?→

Form No. 38 is a statutory form used by a Receiver or Manager appointed by the court to submit an abstract of receipts and payments every six months, ensuring transparency in managing company assets in India.

Is Form No. 38 still valid in India after the Companies Act, 2013?→

The Companies Act, 2013 has replaced the 1956 Act; verify with the Registrar of Companies (ROC) if Form 38 remains applicable or has been substituted by a new form for compliance.

Who should use Form No. 38 of the Companies Act, 1956?→

Receivers or Managers appointed under court orders for company proceedings, such as liquidation, must use this form to report financials to the ROC in India.

In what format can I download Form No. 38?→

Form No. 38 is available for free download in editable Word or non-editable PDF format, suitable for legal filings with the Ministry of Corporate Affairs (MCA) in India.

Does Form No. 38 require stamp duty or filing fees in India?→

Form No. 38 does not require stamp duty as it is a ROC filing form; standard e-filing fees apply as per MCA rules, payable online during submission.

Can I customize or edit Form No. 38?→

Yes, the Word version of Form No. 38 is fully customizable; edit details like company name and figures while ensuring compliance with Indian company law requirements.