TaxTMI 
TaxTMI 
2018 (7) TMI 2024
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.... to T.P. No. 97/HDB/2016 and further to pass consequential orders directing Respondents to pay dividends and interest accrued on such dividends in respect of three rights issue. 2. The Applicant is Mrs. Mallina Bharathi Rao. She is the Petitioner in TP No.94/HDB/2016. The averments in her application in brief that she had filed CP No. 13/202013. The copy of the Company Petition is shown as Annexure-I .1t was filed in Company law Board (CLB) Chennai. She alleged she prayed in her petition to grant the following reliefs:- (i) Direct the Respondent to, either allot or transfer, such number of shares so as to entitle the Petitioner to maintain her percentage shareholding at 3.12% (which was the percentage shareholding she held at th....
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....edings to the Petitioner including expenses incurred for obtaining Central Government permission under Section 399(4); (v) To direct Respondents 2 & 3 to reimburse the Company arnounts to the extent of the entire expenditure of the Company in relation to the proceedings connected with CP No. 7 of 2000 and all further appeals up to Hon'ble Supreme Court in connection therewith and the cost due to the acts of misconduct of Respondent 2 & 3, etc. 3. The said Company Petition was transferred to this Tribunal and it was renumbered as TP 97/HDB/2016. It is the case of Applicant that this Tribunal disposed off said Petition by an order dated 14.03.2017 granting following reliefs:- (1) The Respondents to allot all the three....
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....l under the guise of rectification which is not permissible . 6. The case of Respondent that Rule 154 of NCLT Rules permits for correction in case of any clerical or arithmetical mistake or error arising from accidental slip or omissions. It is not the case of the Applicant that there is any clerical or arithmetical error or mistake in the order. She, on the other hand is seeking additional relief which was not granted by the Tribunal. This Tribunal only granted some reliefs to the Applicant after considering the various aspects of the legal contentions of the parties. It is also stated that Section 420(2) of Companies Act, 2013 prohibits the Tribunal from making any amendment in respect of any order against which an Appeal is preferred.....
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....clared on the allotment of shares in connection with three rights issue. So it is apparent that Tribunal by order dated 14.03.2017 had not committed any clerical or arithmetic error but the case of Applicant that Tribunal ought to have granted a relief of her entitlement to the dividends basing on the reliefs prayed by her. She stated that this Tribunal in the order has observed that Respondents have committed mismanagement etc, and therefore Tribunal should have allowed the relief prayed by her for payment of dividends. 11. The Applicant cannot seek such a relief on the ground it is a clerical or arithmetical error. If any relief is not granted. As rightly pointed out by Counsel for Respondents, the proper course open to the Applicant i....