https://www.taxtmi.com/caselaws?id=797741 Approved resolution plans under the Insolvency and Bankruptcy Code bind members and can validly extinguish pre-CIRP equity shareholding and consequential membership rights. Section 59 of the Companies Act provides a limited rectification remedy for entries or omissions made without sufficient cause; it cannot collaterally reopen an approved plan or revive extinguished shares. Membership in a share-capital company remains inseparable from shareholding, while post-implementation annual returns reflect restructured capital rather than continuity of cancelled holdings. Administrative register provisions and procedural rules create no independent substantive entitlement. Claims for replacement shares, compensation, interest, or mental-suffering damages inconsistent with plan finality fall outside rectification jurisdiction; the Code's overriding effect prevails over inconsistent company-law remedies. en-us Fri, 21 Aug 2026 00:00:00 +0530 Thu, 27 Aug 2026 08:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797741 Approved resolution plans under the Insolvency and Bankruptcy Code bind members and can validly extinguish pre-CIRP equity shareholding and consequential membership rights. Section 59 of the Companies Act provides a limited rectification remedy for entries or omissions made without sufficient cause; it cannot collaterally reopen an approved plan or revive extinguished shares. Membership in a share-capital company remains inseparable from shareholding, while post-implementation annual returns reflect restructured capital rather than continuity of cancelled holdings. Administrative register provisions and procedural rules create no independent substantive entitlement. Claims for replacement shares, compensation, interest, or mental-suffering damages inconsistent with plan finality fall outside rectification jurisdiction; the Code's overriding effect prevails over inconsistent company-law remedies. Case-Laws Companies Law Fri, 21 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797741