2015 (6) TMI 1279

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.....05.2012 in C.P. No. 793/2007 where under the petition filed by the first respondent herein under Section 111A of the Companies Act, 1956 (for short 'Act') came to be allowed by directing the second respondent - company herein to enter the name of the first respondent herein as a member of the company in the Register of members and also directing removal of the name of petitioner herein as member of second respondent - company with a further direction to pay the first respondent herein all the benefits including dividends that might have been declared subsequently in respect of 1,53,75,128 shares of second respondent - company and the direction issued to second respondent - company herein to give necessary instructions to respondent....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....liant attempt to buttress their respective contentions to assail or support the order passed by the Company Law Board, Southern Regional Bench, Chennai dated 15.05.2012, we are of the considered view that on the ground of respondent No. 2 before the Company Law Board i.e., appellant in Comp. A. No. 13/2012 was not served and as such order passed by Company Law Board is in violation of principles of natural justice, same is liable to be set aside and matter requires to be remitted back to the Company Law Board for being adjudicated on merits and in accordance with law afresh and for the reasons indicated herein below. Hence, we do not propose to go into the merits of the case. 4. The parties are referred to as per their rank before the Co....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y Law Board has fairly conceded that service of notice on respondent No. 2 could not be effected. After recording his submission, Company Law Board permitted the petitioner to file appropriate application for passing necessary orders. Relevant portion of the order dated 25.03.2008 passed by the Company Law Board reads as under: "Counsel appearing for the parties are present. Shri Habibullah Badsha, learned Senior Counsel admits that M/s Krishna Enterprises Limited though arrayed as second respondent, the notice could not serve because of non-availability of correct address, in spite of efforts put by them. He further xxx address of second respondent. In view of the matter the petitioner may file an appropriate application for passi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....o regulations are extracted herein below: "21. Service of notice and process issued by the Bench.- (1) xxx (2) xxx (3) xxx (4) Where a notice is served by the registered post, the Secretary or Bench Officer may, if the acknowledgment is not received, determine the question as to the sufficiency of the service of the notice." 26. Procedure to be followed where any party does not appear.- (1) XXX (2) XXX (3) Where, on the date fixed for hearing or any other date to which such hearing may be adjourned, the petitioner appears but the respondent does not appear when the petition is called for hearing, the Bench, may, in its discretion, adjourn the hearing or hear an....