2022 (5) TMI 585

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... For the Appellant : Sanchit Garga , Adv ORDER Virendra Kumar Gupta , Member ( T ) 1. Through this application the appellant is seeking following directions : (i) Cancel the allotment of 5000 shares at Face Value of Rs. 10/- bearing Certificate No. 12, distinctive Folio No. 1115001 to 116500 and further 20,000 shares at Face Value of Rs. 10/- bearing Certificate No. 10, distinc....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ent Nos. 2 & 3 refused to receive such notices. 3. In this background all respondents were made set ex parte. The respondent No. 1 is a Private Limited Company. It is alleged by the applicant that at the request of the respondent No. 2, the appellant gave a loan of Rs. 25 lakh in two tranches of Rs. 20,000/- and Rs. 5 lakh on 20.07.2018 & 06.09.2018. When the appellant demanded the repayment of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t compliance of the provisions of old Companies Act, 1956 and Companies Act, 2013. 4. The Ld. Counsel for the appellant appeared and narrated these facts and submitted that his name may be removed from the Register of members and the allotment may be cancelled made in favour of the appellant. We have considered the submissions made by the Ld. Counsel appearing for the appellant and material on ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....shares. 6. In these circumstances, we direct the respondent No. 1 Company to delete the name of the appellant from the Register of Members within two weeks from the date of this order and file requisite documents with RoC also, who shall take on record such documents in terms of the relevant provisions of law. As regard to the other grounds regarding the direction to the Company to repay loan, ....