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of <h1>Appeal Dismissed: Companies Act Challenge Over Share Register Rectification Denied</h1> <h3>RAMAN CHADHA Versus M/s THE BASTI SUGAR MILLS CO LTD</h3> The appeal filed under section 10F of the Companies Act challenging the CLB's order for rectification of share register under section 111A was dismissed. ... - Issues involved: Appeal filed u/s 10F of Companies Act challenging CLB's order dismissing petition u/s 111A for rectification of share register.Details of the judgment:1. Observations of CLB: - CLB found no case u/s 112 of the Act, deemed certification claim untenable. - Alleged collusion between Managing Director and petitioner's father. - Lack of valid transfer endorsement on share certificate. - Respondent's contention of collusion prima facie established. - Proxy litigation to remove disqualification of Statutory Auditor. - Failure to follow normal transfer procedure. - Respondent's contentions remain unrebutted.2. Appellant's Submissions: - Impugned order based on surmises, not addressing relied upon documents. - Mention of Share Certificate, Share Transfer Form, and shareholder list. - Original Share Transfer Register not produced by respondent. - Respondent's evasive response to appellant's request for notice.3. Respondent's Arguments: - Appellant's petition filed for collateral purpose by father, previous auditor. - Allegations of fabricated documents by appellant's father in collusion with previous management. - Change in management in 2005, loss of documents during office shift. - Discrepancies in transfer documents pointed out. - Appellant's father shown as shareholder in contemporaneous shareholder list.4. Court's Decision: - Appeal u/s 10F lies on question of law or perverse finding. - No perversity found in impugned order. - Lack of transfer number, ledger folio number, and company stamp/seal on documents. - Legally valid explanation for non-production of original Share Transfer Register. - Annual returns filed by previous management show appellant's father as shareholder. - CLB rightly concluded falsity of petitioner's case based on public documents. - Appeal deemed devoid of merit and dismissed without costs.
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