https://www.taxtmi.com/caselaws?id=261020 A company petition should not be dismissed at the threshold for alleged want of locus standi or failure to satisfy the shareholding requirement under section 399 of the Companies Act, 1956 where membership is itself disputed on the record. The petitioner relied on the memorandum and articles showing him as a subscriber, with section 41 treating subscribers as members on incorporation. The Board noted conflicting facts about payment for shares, missing records, and the absence of a call notice demanding call money. Because eligibility under sections 397 and 398 depended on disputed factual questions, the issue could not be decided summarily and required enquiry. The request for threshold dismissal was therefore rejected and the petition was allowed to continue. en-us Thu, 26 Feb 2015 00:00:00 +0530 Tue, 30 Jun 2015 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261020 A company petition should not be dismissed at the threshold for alleged want of locus standi or failure to satisfy the shareholding requirement under section 399 of the Companies Act, 1956 where membership is itself disputed on the record. The petitioner relied on the memorandum and articles showing him as a subscriber, with section 41 treating subscribers as members on incorporation. The Board noted conflicting facts about payment for shares, missing records, and the absence of a call notice demanding call money. Because eligibility under sections 397 and 398 depended on disputed factual questions, the issue could not be decided summarily and required enquiry. The request for threshold dismissal was therefore rejected and the petition was allowed to continue. Case-Laws Companies Law Thu, 26 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261020