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Showing contexts for: rectification of register in Gireesh Kumar Sanghi vs Sanghi Industries Ltd on 1 December, 2023Matching Fragments
2. In the first appeal, the application under Section 59 of the Act was filed seeking the following relief:-
"a. Declare that 1,33,62,800 shares transferred on 18.12.2014 is in willful violation of Orders of Hon'ble Company Law Board, 23.10.2008 and 28.10.2009. b. Direct rectification of Register of Members of Respondent No. 1 Company to the extent of 1,33,62,800 shares transferred to Respondent No. 2 on 18.12.2014, previously held by R7 to R l7 and as detailed below and consequent rectification of shareholding of R2 in R1 Company:
3. Whereas the application under Section 59 of the Act was filed in the second appeal for the following reliefs: -
"a. An order declaring that 1,33,62,800 shares of R7 to Rl7 transferred on 18.12.2014 is illegal and null and void and also in violation of Orders of Hon'ble Company Law Board, 23.10.2008 and 28.10.2009.
b. Directions for rectification of Register of Members of Respondent No. 1 Company to the extent of 1,33,62,800 shares transferred to Respondent No. 2 on 18.12.2014, previously held by R7 to Rl7 and as detailed below and consequent rectification of shareholding of R2 in RI Company by restoring name of R7 to R17 in members register of R1 Company:
Company Appeal (AT)(CH) Nos. 95 & 96 of 2023
7. On the other hand, while defending, Counsel for the Respondent has argued that in the case of Ammonia Supplies (Supra), the Hon'ble Supreme Court has held, which has been extracted also by the Tribunal that "it is a summary power to carry out corrections or rectifications in the register of members and that the rectification must relate to and be confined to the facts that are evident and need no serious enquiry". Similarly, while referring to IFB Agro Industries Limited (Supra) he has again referred to the extracted portion in the impugned order which read as under:-
"The rectificatory powers of a Board/Company Court under Section 38 of the Companies Act, 1913, then under Section 155 of the 1956 Act, followed by Section JJJA introduced by the 1996 Amendment to the 1956 Act, and finally, Section 59 of the 2013 Act, demonstrate that its essential ingredients have remained the same. It is a summary power to carry out corrections or rectifications in the register of members. The rectification must relate to and be confined to the facts that are evident and need no serious enquiry."