https://www.taxtmi.com/caselaws?id=260761 In a rectification petition concerning shares held through a depository system, the depository was treated as neither a necessary nor a proper party because the effective dispute was with the company's register of members, while beneficial ownership remained with the shareholder. The proceeding was also held subject to limitation principles, including Article 137, and to the doctrine of delay and laches, so a long-delayed petition was treated as time-barred. On the merits, the petitioners failed to prove that their names were removed without sufficient cause or in breach of the transfer procedure, and rectification or restoration of shareholding was refused. en-us Fri, 02 Jan 2015 00:00:00 +0530 Tue, 23 Jun 2015 07:31:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260761 In a rectification petition concerning shares held through a depository system, the depository was treated as neither a necessary nor a proper party because the effective dispute was with the company's register of members, while beneficial ownership remained with the shareholder. The proceeding was also held subject to limitation principles, including Article 137, and to the doctrine of delay and laches, so a long-delayed petition was treated as time-barred. On the merits, the petitioners failed to prove that their names were removed without sufficient cause or in breach of the transfer procedure, and rectification or restoration of shareholding was refused. Case-Laws Companies Law Fri, 02 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260761