2011 (2) TMI 1265

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.... 1. These two company petitions are filed under section 155 of the Companies Act, 1956 seeking an order to rectify the register of members of first respondent-company by deleting the names of respondents 2 and 3 and to show the name of petitioners as the owner of equity shares of the company. 2. The first respondent is a public limited company incorporated under the Companies Act, 1956 on 28-9-....

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....e transfer forms and illegally transferred shares in his name, in his daughter and the petitioner in Co. P. No. 109/1987 instead of transferring them to M/s. Kapi Investment Ink Limited. Respondents 2 and 3 on coming to know the illegal transfer of shares to the name of petitioners, complained to the first respondent-company. The first respondent-company in the meeting of Board of Directors on 17-....

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....n behalf of transferee has been delivered to the company along with the certificate relating to the shares or debentures. Therefore, the requirement under section 108 of the Companies Act, 1956 is that the instrument of transfer should be duly stamped and that the same should be delivered to the company. The provisions contend in section 108 of the Companies Act are mandatory in nature. On the fac....

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....then it is always within their inherent power to rectify such a mistake. Therefore, the impugned entry in the register of members of first respondent-company is in accordance with law and I find no justifiable ground to interfere with the same. 6. It is seen from the record that the first respondent passed the impugned resolution not on the basis of complaint given, by respondents 2 and 3 in th....