2022 (9) TMI 225 - Tri - Companies Law

Tribunal schedules hearing to address discrepancies in PAN details & potential misuse of information by Respondent

The Tribunal directed the Registry to issue notices to the Respondents within seven days and scheduled a further hearing before the Regular Bench to ... Correction of error in furnishing PAN - list of shareholders - Seeking directions to ROC to strike out the PAN details of the Applicant mentioned against one H.L. Vaishnav from the list of subscribers - HELD THAT:- On perusal of the documents on record, it is seen that the same PAN of the Applicant is used in Form-I of the Respondent Company, but the entry against the 'Name', 'Father's Name' and 'DOB' is different from that Applicant PAN Card submitted by the Applicant at Annexure P-2. On Comparing these documents, a doubt is raised as to the veracity of the documents/details that are entered in the Company's Form-I (i.e. Application and Declaration of incorporation of the Company). Also, Form-I is not submitted by any practising Professional rather by one member of the Company namely Anil Kumar Sharma has submitted it. List the matter on 08.09.2022 before the Regular Bench. Issues:1. Application under Sections 7(5), 7(6), and 7(7) of Companies Act, 2013 seeking directions against Respondent No. 8.2. Allegations of fraudulent acts and malpractices by Respondent Nos. 2, 3, 4, 5, 6, and 7.3. Request for various reliefs including striking out PAN details, absolving from liabilities, and initiating investigations.4. Discrepancies in PAN details and misuse of Applicant's information during incorporation of Respondent No. 1.5. Comparison of documents and doubts regarding the veracity of information submitted by the Respondent Company.Analysis:1. The Applicant filed an application under Sections 7(5), 7(6), and 7(7) of the Companies Act, 2013 seeking directions against Respondent No. 8 to strike out PAN details erroneously linked to the Applicant's name in the list of subscribers attached with Form 1 filed by Respondent No. 1. The Applicant sought relief from potential liabilities arising from the misrepresentation.2. The Applicant alleged fraudulent acts and malpractices by Respondent Nos. 2, 3, 4, 5, 6, and 7, claiming they misused PAN details obtained during a previous investment scheme to falsely associate the Applicant's PAN number with one H.L. Vaishnav during the incorporation of Respondent No. 1. The Applicant requested actions against the Respondents, including cancellation of incorporation certificates and initiation of criminal investigations.3. The Tribunal reviewed the documents and contentions presented by the Applicant, noting discrepancies in the PAN details used by the Respondent Company in Form 1 compared to the Applicant's actual PAN card information. The Tribunal observed contradictions in the details provided and raised doubts about the accuracy and legitimacy of the information submitted during the company's incorporation process.4. Based on the discrepancies found, the Tribunal directed the Registry to issue notices to the Respondents, returnable within seven days. The matter was scheduled for further hearing before the Regular Bench on a specified date to delve deeper into the issues raised and address the concerns regarding the misuse of the Applicant's information during the incorporation process of Respondent No. 1.This detailed analysis encapsulates the key issues, contentions, and the Tribunal's direction in response to the application filed by the Applicant, highlighting the fraudulent practices alleged and the discrepancies identified in the documents submitted during the incorporation process.