Pushpaben Kalyanbhai Vasa And Anr. vs Grasim Industries Limited on 18 July, 2002
5. The Counsel for the Respondent No.1 company, in this connection has
referred the order dated 6th June, 1997, passed by the Company Law Board, Southern
Region Bench, in the case of Andhra Pradesh Paper Mills Limited v. Pompasar
Distillery Limited. In the said case it is stated that "Any right to move the Company
Law Board in respect of a public company could only be under the provisions of
Section 111A. As far as transfer matters are concerned, now provision exists under the
proviso to Sub-section 111A(2) as well as 111A(3). However, rectification in respect of
non transfer matters cannot be sought before the Company Law Board as no jurisdiction
in these matters has been conferred on the Company Law Board under that section.
Therefore, under the existing provisions, the only remedy available is that, one has to
move the Civil Court". It is also stated in the said order that "one has to move a forum,
which has the jurisdiction to entertain the matter on the day of filing a petition, and not a
forum which had the jurisdiction when the cause of action arise but does not have the
jurisdiction when a petition is filed".