2026 (1) TMI 276

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....F of the Companies Act 1956 is against the judgment of the National Company Law Appellate Tribunal, New Delhi in Company Appeal (AT) No. 208 of 2017 dated 03.11.2017. 2. The short facts necessary for the disposal of the present appeal are that the respondents filed a Company Petition No. 57 of 2015 before the Company Law Board Kolkata, Bench alleging oppression and mismanagement by the appellants and sought various reliefs including rectification of the register of members of the company. They primarily contended that the appellants have manipulated the resignation letters and also their shares were never transferred. By its judgment dated 23.03.2017, the NCLT Kolkata dismissed the petition on the ground of delay and latches as the alleg....

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....ndings: "10. A sample reference was made to page -511 of the paper book. If the said Form-7(b) "Share Transfer Form U/s 108(1A)" of Old Act is perused, it shows that the Registrar of Companies had put his seal on top of the share transfer form along with a seal of date recording "07.11.2007" When the learned counsel for the Respondents was asked as to on what date this share transfer form was executed, he referred to this date. However, this date is date of presentation under clause (a) of Sub-section IA of Section 108. The learned counsel for the Appellants pointed out and rightly so, that the share transfer form does not bear date of execution; it does not bear even the name of the company nor number of shares which had been tran....

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.... annual returns and balance sheets for financial years 2010, 2011 and 2012 continued to show the Appellants as directors. For example, a copy of the annual return as at page 382 of the paper book can be seen. Learned counsel for the Appellants further pointed out copy of the Annual Return which is at page 350 of the paper book. In this Return "date of annual general meeting/due date" is 30.09.2006. Chart claiming details of share transfer since the date of last "AGM" is annexed to the Return at page 361. This chart shows shares have been transferred from the Appellants No. 1 to 7 in favour of Respondent nos. 2 to 6. Learned counsel for the Appellants pointed out that these details claim that the "date of registration of transfer of shares" ....