1980 (9) TMI 202

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.... Respondent. JUDGMENT Chandrakantaraj Urs, J. - This is a petition under section 155 of the Companies Act, 1956, praying for a direction to the respondent Vikrant Tyres Ltd., Mysore, to rectify the register of members of the company by deleting the name of the petitioner in respect of 50 shares of the face value of Rs. 10 each as the allotment of those shares was ab initio void as not being ....

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....with effect from that date and his name in respect of the shares in question no longer appear in the register of members of the company. No doubt, Sri. N. Gopalakrishna Shetty has argued that supervening circumstances are without regard to the stay order passed by this court at an earlier stage and, therefore, this court should not consider this aspect. This may be so. I do not want to express ....

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....alance of amount due on the various calls or reduce their shareholding by asking the company to appropriate the full value of such number of shares as fully subscribed. Pursuant to the negotiations all other petitioners have reached settlement with the company except this petitioner. In such circumstances, this petition, in my opinion, is more a vexatious and a motivated one and not with a genuine....