Courier operator transshipping imported goods via designated air carrier, under transshipment bonds and strict Customs supervision, approved until 17....
Section 59 of the Companies Act, 2013 was held to be confined to rectification of the register of members and not a vehicle to obtain a judicial direction for issuance of a valid share certificate. Since the claimant admittedly did not hold a validly executed share certificate and sought to cure defects by compelling issuance of a fresh certificate, the dispute involved seriously contested factual issues and scrutiny of evidence beyond the Tribunal's summary rectificatory jurisdiction, with Rule 70(5) being inapplicable in the absence of a valid certificate. The withdrawal from arbitral proceedings on the identical issue also weighed against maintainability under Section 59. The application was therefore not maintainable and the appeal was dismissed - NCLAT
Section 59 of the Companies Act, 2013 was held to be confined to rectification of the register of members and not a vehicle to obtain a judicial direction for issuance of a valid share certificate. Since the claimant admittedly did not hold a validly executed share certificate and sought to cure defects by compelling issuance of a fresh certificate, the dispute involved seriously contested factual issues and scrutiny of evidence beyond the Tribunal's summary rectificatory jurisdiction, with Rule 70(5) being inapplicable in the absence of a valid certificate. The withdrawal from arbitral proceedings on the identical issue also weighed against maintainability under Section 59. The application was therefore not maintainable and the appeal was dismissed - NCLAT
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