Civil Court lacks jurisdiction post Section 430 incorporation. Share certificate dispute falls under Company Law Tribunal.

The judgment concluded that the civil court lacked jurisdiction over the dispute post the incorporation of Section 430 of the Companies Act, 2013. It emphasized that matters falling under the Companies Act, 2013, should be addressed by the Company Law Tribunal. The issuance of duplicate share certificates dispute was deemed to be within the exclusive jurisdiction of the Tribunal, as mandated by Section 434 of the Companies Act, 2013. The civil court's order was set aside, directing the matter to be presented before the Company Law Tribunal for resolution.

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Issues Involved:
1. Jurisdiction of Civil Court post incorporation of Section 430 of the Companies Act, 2013.
2. Issuance of duplicate share certificates and related disputes.
3. Applicability of Sections 56, 57, 58, and 59 of the Companies Act, 2013.
4. Transfer of pending proceedings to the Company Law Tribunal.

Detailed Analysis:

1. Jurisdiction of Civil Court Post Incorporation of Section 430 of the Companies Act, 2013:
The core issue is whether the civil court retains jurisdiction over a pending civil suit after the incorporation of Section 430 of the Companies Act, 2013. Section 430 explicitly bars civil courts from entertaining any suit or proceeding related to matters that fall under the jurisdiction of the Company Law Tribunal or the Appellate Tribunal. The judgment emphasizes that the civil court is not competent to try disputes that fall within the ambit of the Companies Act, 2013, post the constitution of the Company Law Tribunal as per the notification dated 1st June 2016.

2. Issuance of Duplicate Share Certificates and Related Disputes:
The respondent had misplaced his share certificates and sought duplicate certificates from the company, which was denied. The matter escalated to SEBI and eventually led to a civil suit. The judgment refers to Section 84 of the Companies Act, 1956, and its corresponding Section 46 in the Companies Act, 2013, which govern the issuance of duplicate share certificates. The Supreme Court in Shripal Jain Vs. Torrent Pharmaceuticals Ltd. held that the proper forum for such disputes is not the civil court but the Registrar, who should conduct an inquiry under the relevant provisions.

3. Applicability of Sections 56, 57, 58, and 59 of the Companies Act, 2013:
The petitioner argued that the dispute falls under Sections 56, 57, 58, and 59 of the Companies Act, 2013, which deal with the transfer and transmission of securities and the rectification of the register of members. The judgment highlights that these sections provide a mechanism for resolving disputes related to the refusal of registration and rectification of the register, which should be addressed by the Company Law Tribunal.

4. Transfer of Pending Proceedings to the Company Law Tribunal:
Section 434 of the Companies Act, 2013, mandates the transfer of pending company matters from civil courts to the Company Law Tribunal. The judgment underscores that disputes pertaining to company matters, such as the issuance of duplicate share certificates, fall under the exclusive jurisdiction of the Company Law Tribunal. Consequently, the civil court's order was set aside, and the plaint was directed to be presented before the Company Law Tribunal.

Conclusion:
The judgment concludes that the dispute between the parties is a company matter and not a civil dispute. It directs the civil court to return the plaint to the concerned Company Law Tribunal within two months and mandates the Tribunal to decide the matter within six months. The status quo regarding the disputed shares is to be maintained until the Tribunal's decision. The petition is allowed, and the civil court's order dated 22.11.2019 is set aside.

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