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of <h1>Tribunal Dismisses Petition Due to Lack of Membership Status; Appellant Advised to Seek Relief Elsewhere.</h1> <h3>Nishal Rajsakha Versus BND Fashions Pvt. Ltd. & Ors.</h3> Nishal Rajsakha Versus BND Fashions Pvt. Ltd. & Ors. - TMI Issues:1. Maintainability of combined application under Sections 59, 397, and 398 of the Companies Act, 1956.2. Entitlement to file a petition under Sections 397 and 398 without being a registered member.3. Decision on the application under Section 59 of the Companies Act, 2013.4. Tribunal's authority to decide the merit of the claim under Section 59 when the petition under Sections 397 and 398 is not maintainable.Analysis:1. The appellant filed an appeal against the National Company Law Tribunal's order dismissing the company petition under Sections 397 and 398 of the Companies Act, 1956, citing the appellant's name not being recorded in the shareholder register. The Tribunal accepted the respondent's argument and dismissed the petition based on this ground.2. The appellant contended that the combined application under Sections 59, 397, and 398 was maintainable. However, the respondents argued that without the appellant's name in the register of members, the petition under Sections 397 and 398 was not maintainable as per Section 399 of the Companies Act, 1956. The Tribunal agreed with the respondents, stating that only a qualified member could file a petition under these sections.3. The Tribunal clarified that since the petition under Sections 397 and 398 was not maintainable, it was unnecessary to decide on the merit of the claim under Section 59 of the Companies Act, 2013. The decision on the application under Section 59 should be based on different criteria, separate from the maintainability issue of the petition under Sections 397 and 398.4. Consequently, the Tribunal set aside its observations regarding the merit of the application under Section 59 and modified the order. The application under Sections 397 and 398 was dismissed, allowing the appellant to seek appropriate relief in a Court of competent jurisdiction if entitled under the law. The appeal was disposed of with these observations.
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