Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
This case pertains to a prayer for rectification in the Register of Members concerning the transfer of shares, invoking Section 154 of the NCLT Rules. The key points are: The appeal against the relief granted by NCLT in the Principal Company Petitions was sustainable only when the Company (Appellant No.1) was contesting the matter as a legal entity. However, upon withdrawal by the Company, Appellant No. 2 (an individual) had no cause of action flowing from Appellant No.1. Consequently, the appeals were dismissed without prejudice to Appellant No. 2's rights u/s 59 of the Companies Act. The relief sought for re-entering names and share configuration in the Register of Members could not be pressed by Appellant No. 2 in the absence of an effective contest by Appellant No. 1 (the Company). Appellant No. 2 is free to resort to appropriate proceedings u/s 59(2) of the Companies Act, 2013, which will be decided per the law.
This case pertains to a prayer for rectification in the Register of Members concerning the transfer of shares, invoking Section 154 of the NCLT Rules. The key points are: The appeal against the relief granted by NCLT in the Principal Company Petitions was sustainable only when the Company (Appellant No.1) was contesting the matter as a legal entity. However, upon withdrawal by the Company, Appellant No. 2 (an individual) had no cause of action flowing from Appellant No.1. Consequently, the appeals were dismissed without prejudice to Appellant No. 2's rights u/s 59 of the Companies Act. The relief sought for re-entering names and share configuration in the Register of Members could not be pressed by Appellant No. 2 in the absence of an effective contest by Appellant No. 1 (the Company). Appellant No. 2 is free to resort to appropriate proceedings u/s 59(2) of the Companies Act, 2013, which will be decided per the law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
