2017 (9) TMI 324

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....ndia Shares and Insurance Ltd., his name has been featured as a Director of the said company in the annual returns filed by them for the years 2005 to 2014. Interestingly, the petitioner says, his name was deleted as the Director of the said Company from the year 2015 onwards and that too not on his application but suo motu by the Company. The petitioner says that his inclusion as a Director of the Company for the period 2005 to 2014 is irregular, improper and illegal and that it is inscrutable as to why he had been so included. The petitioner alleges that the action of the Directors of the Company in including his name as a Director of its Board for the period from 2005 to 2014 is confutative and he apprehends that he will be liable for an....

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....hase of a flat for his own residence, which they were constructing at that time. The learned counsel for the petitioner asserts that the Directors of these two companies are common and that it is obvious that the investments made by his client in Business India Builders & Developers Pvt. Ltd. has been manipulated and misappropriated by the Directors of these two companies and that he has been illegally and wrongfully shown as the Director of the Company. As I have already recorded above, the submissions made on behalf of respondents 1 and 2 go completely in support of the allegations made by the petitioner. The credence and veracity of the case of the petitioner in this writ petition is above board since even the second respondent in their ....

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....nquiry and investigation into the affairs of the Company and to rectify mistakes or deliberate entries in the books and documents maintained by it. 6. Further, Regulation No.17 of the Companies Regulations, 1956 also empowers the second respondent to examine the documents and to direct the Company to rectify the defects and additionally mandates that no document of the Company can be taken on record unless the defects are rectified. The operational sweep of this Regulation is wide as one will gather from its reading, for which I place it herein as under: "17(1) The Registrar shall examine, or cause to be examined, every document received in his office which is required or authorised by or under the Act to be registered, recorded or filed....