TaxTMI 
TaxTMI 
2015 (4) TMI 805
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.... in the Respondent No.1 Company, along with all incidental benefits like dividend, bonus issue, rights issue etc. since 1996 accrued on the said shares. It is further prayed that direction be issued to the Respondent No.1 to rectify the Register of Members in respect of the impugned shares. It is further prayed for an order to restrain the Respondent Nos.1 and 2 from issuing duplicate share certificates to the Respondent Nos.4 to 8 or any other person. 2. The facts in brief of the Appellant's case are as follows :- 2.1 That the Appellant has purchased 230 Equity Shares of the Respondent No.1 Company (hereinafter referred to as the "the Company" in short) on 11th November, 1996 through the Respondent No.3, who is a stock broker, by....
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....ant should approach a competent court. Hence this Petition/Appeal seeking the reliefs as stated above. 3. On service of notice, the Constituted Attorney of the Respondent No.1 Company and Authorized Signatory of the Respondent No. 2 Company appeared. The Respondent Nos.3 to 8 were served through substituted service by publishing the notice in the newspapers. However, in spite of such service, the Respondent Nos.3 to 8 have not appeared. 4. In their Reply, the Respondent Nos.1 and 2 have initially challenged the maintainability of the Petition/Appeal contending that the main dispute in the present case is between the Appellant and the Respondent Nos. 3 to 8, and there is no cause of action arose so far as the Respondent Nos.1 and 2 are....
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....I do not find any force in this petition/appeal. For the sake of convenience Section 59 of the Companies Act, 2013 is reproduced here as under :- Rectification of register of members. "59. (1) If the name of any person is, without sufficient cause, entered in the register of members of a company, or after having been entered in the register, is, without sufficient cause, omitted therefrom, or if a default is made, or unnecessary delay takes place in entering in the register, the fact of any person having become or ceased to be a member, the person aggrieved, or any member of the company, or the company may appeal in such form as may be prescribed, to the Tribunal, or to a competent court outside India, specified by the Central Governm....
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.... does not specifically provide the period of limitation, however, in my view, the provisions of the Limitation Act would apply in a petition filed under Section 111/111A of the Companies Act, 1956 as laid down in the case reported in (2004) CLC 1094.It is settled taw that, if no limitation period is prescribed, in that case Article 137 of the Limitation Act shall be applicable. Therefore, in terms of Article 137 of the Limitation Act, 3 years period with effect from the date of cause of action would be available for an aggrieved party to approach the CLB for relief under Section 111/111A of the Act. In light of the above law, I have examined the pleadings as contained in the petition. The instant Appeal has been filed on 15/10/2013. It is, ....