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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clause 59: Rectify Company Member Register Errors; Tribunal Can Order Fixes, Damages, and Penalize Non-Compliance.</h1> Clause 59 of the Companies Bill, 2011 addresses the rectification of a company's register of members. If a person's name is wrongly entered or omitted from the register, or if there is a delay in updating membership status, the aggrieved party or the company can appeal to the Tribunal or a designated foreign court. The Tribunal can dismiss the appeal or order rectification and damages. Share or debenture holders retain transfer rights unless restricted by the Tribunal. Violations of securities laws can lead to Tribunal-directed rectifications. Non-compliance with Tribunal orders results in fines and potential imprisonment for company officers.
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