Rule 73 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Rule 73 sets out how depositors, debenture holders and trustees apply to the Tribunal when a company fails to repay deposits or redeem debentures, and how a company applies for more time under sections 74(2) and 76(2). The main application is in Form NCLT-11, with a list of holders and a sixty-day period for the Tribunal's order.
Where a company fails to redeem debentures or repay deposits, interest or any part, an application under section 71(10), section 73(4) or section 45QA of the RBI Act is filed in Form NCLT-11 in duplicate with Annexure B documents, by the holders or the trustee (rule 73(1)). A list of depositors or debenture holders is attached, with a company affidavit where the company is the applicant (rule 73(2)). The Tribunal passes an appropriate order within sixty days of receipt, after giving a reasonable opportunity of being heard (rule 73(3)), and may direct repayment forthwith or within a time, considering the company's financial condition (rule 73(4)). Applications under section 74(2) and section 76(2) read with 74(2) are in Form NCLT-1 (rule 73(5)), with copies to the Regional Director and the ROC, and an ROC report within thirty days (rule 73(6)-(7)). Read as amended up to the National Company Law Tribunal (Amendment) Rules, 2020 (G.S.R. 80(E), 3 February 2020). Later amendments should be checked.
Rule 73(1): who applies, and in which form
Where a company fails to redeem debentures or repay deposits or any part or interest, an application under section 71(10), section 73(4) or section 45QA of the Reserve Bank of India Act, 1934 is filed to the Tribunal in Form NCLT-11, in duplicate, with the documents in Annexure B, by:
- (a) in the case of debentures, all or any of the debenture holders concerned, or the debenture trustee; or
- (b) in the case of deposits, all or any of the depositors concerned or, where deposits are secured, the deposit trustee.
The rule's heading names sections 71(9), 71(10), 73(4), 74(2) and 76(2); sub-rule (1) itself names section 71(10), section 73(4) and section 45QA of the RBI Act. For the sections, see our guide to section 71 and section 73. If you are a depositor or debenture holder planning an application, or a company facing one, our deposits and DPT-3 return team can help with the papers.
Rule 73(2): list of depositors or debenture holders
The application is accompanied by a list giving, for every depositor or debenture holder: (a) full name, age, parent's or spouse's name, occupation and residential address; (b) the fixed deposit receipt or debenture certificate number; (c) the date of maturity; (d) the amount due; (e) the amount already paid; and (f) the total amount due on the date of the application. By proviso, where the company is the applicant, it files an affidavit that the list is correct and that the estimated values of the amounts payable are proper estimates.
Rule 73(3) and (4): the sixty days and the repayment order
The Tribunal shall pass an appropriate order within sixty days from receipt of the application, after giving the company and any other interested person a reasonable opportunity of being heard. If satisfied that it is necessary to safeguard the interests of the company, the debenture holders or the depositors, or in the public interest, it may direct repayment forthwith or within such time and on such conditions as the order specifies. By proviso, it considers the financial condition of the company, the amount of the deposit or debenture and the interest payable.
Rules 73(5)-(7): sections 74(2) and 76(2)
- Rule 73(5). An application under section 74(2) and section 76(2) read with section 74(2) is in Form NCLT-1 with the Annexure B documents.
- Rule 73(6). A copy of the application is served on the Regional Director and the Registrar of Companies before the hearing.
- Rule 73(7). The Registrar, in consultation with the Regional Director, submits to the Tribunal a report on the company's affairs within thirty days of receipt of the application, and the Tribunal may consider any observation of the Registrar before passing an order.
See also our guide to section 74 and 75 and section 76. For debenture trust deeds, see Rules 18 and 1 to 6 of the Share Capital and Debentures Rules, 2014.
Form NCLT-11: headings as printed
Form NCLT-11 (see rule 73) is titled Application by depositor under section 73(4) or 76(2) or by company under section 74(2) or by debenture holder or debenture trustee under section 71(10) of the Act or section 45QA of the Reserve Bank of India Act, 1934, with a note to delete whichever is not applicable. After the heading as in Form NCLT-4, it asks for (i) name and address of the applicant, (ii) the company and its registered office, (iii) names of depositors or holders, (iv) the amount of deposits, (v) the receipt number and date, (vi) terms and conditions and date of maturity, (vii) payments made, (viii) the actual amount due on the date of application (principal and interest), (ix) correspondence between the company and the depositor and (x) any other particulars. The prayer asks that the company be directed to repay the deposits or debentures with interest due under their terms, and for such further orders as the Tribunal deems fit.
Annexure B, serials 7 and 8
Serial number 7 (section 73(4)), application by depositor for repayment of deposit or interest (the word "depositor" replaced "deposition" in the heading by G.S.R. 1159(E)):
- Copy of the deposit receipt.
- Copy of the correspondence exchanged with the company.
- Bank draft evidencing payment of application fee.
- Any other relevant document.
Serial number 8 (section 74(2)), application to allow further time to the company to repay deposits (the word "small" was omitted from item 2 by the same amendment):
- Names and addresses of the officers of the company.
- Full details of depositors such as names, addresses, amount of deposits, rate of interest, dates of maturity and other terms and conditions of deposits.
- Reasons for nonpayment or late payment.
- Annual Reports for the last three years.
- Projection and cash flow statement for the next three financial years duly certified by Statutory Auditors of the company.
- Any other relevant document.
The fee for each is in the Schedule; see the article on rule 112 and the Schedule of Fees and Annexure B, part 2.
Rule 73 at a glance
| Application | Section | Form | Applicant | Special step |
|---|---|---|---|---|
| Failure to redeem debentures | 71(10) | NCLT-11 (duplicate) | Holders or trustee | List of holders |
| Failure to repay deposits | 73(4) | NCLT-11 (duplicate) | Depositors or deposit trustee | List of depositors |
| Further time for repayment | 74(2) | NCLT-1 | Company | Copy to RD and ROC; ROC report in thirty days |
| Section 76(2) read with 74(2) | 76(2) | NCLT-1 | Company | Same |
An example
Evergreen Finance Limited has not repaid a group of depositors on maturity. Three depositors file Form NCLT-11 in duplicate, attaching the deposit receipts, their correspondence with the company and a list showing amounts due. The Tribunal hears the company and, within sixty days, directs repayment within a stated time after considering its financial condition. Had the company itself applied under section 74(2) for more time, it would use Form NCLT-1 and the Registrar would report within thirty days.
What a practitioner checks
- Whether the applicant is a depositor, debenture holder, trustee or the company, and which form applies.
- That the list covers every item (a) to (f), and a company applicant files its affidavit.
- That the sixty-day and thirty-day periods are tracked from receipt of the application.
- That copies are served on the Regional Director and ROC for section 74(2) and 76(2) applications.
Need help with a deposit or debenture application?
Whether you are owed money or the company needs time, the list and the papers must be right. For help, speak to our deposits and DPT-3 return team.
Key takeaways
- Depositors, debenture holders and trustees apply in Form NCLT-11 in duplicate (rule 73(1)).
- A list of depositors or holders is attached; a company applicant adds an affidavit (rule 73(2)).
- The Tribunal passes an order within sixty days, after a hearing (rule 73(3)).
- Applications under sections 74(2) and 76(2) are in Form NCLT-1, with a Registrar's report within thirty days (rule 73(5)-(7)).
Read next
- Rule 64 and 65: Company Law Board cases and section 45QA
- Annexure B, part 2: documents to attach
- Section 73: deposits
- Sections 74 and 75: repayment of deposits
Disclaimer: Based on the National Company Law Tribunal Rules, 2016 (G.S.R. 716(E)) as amended up to the National Company Law Tribunal (Amendment) Rules, 2020 (G.S.R. 80(E)), consulted on 3 October 2026. Later amendments, fees, forms, NCLT practice directions and the Companies Act, 2013 provisions referred to should be checked. This article is general information, not legal advice; check the official text before acting.