Court : Company Law Board CLB
Reported in : (1995)82CompCas688
1. This application under Sections 111(4) and 111(7) of the Companies Act, 1956 (hereinafter referred to as "the Act"), has been filed by Dr.Jitendra Nath Saha and Smt. Bithika Sana (hereinafter referred to as "the petitioners") for rectification of the register of members of respondent No. 3 (hereinafter referred to as "the company") by declaration of certain allotment of shares as invalid and direction to distribute the resultant shares in accordance with law. This application was heard on July 27, 28, 1992, by a Bench constituted by Order No. 11/2/92-CLB(PB), dated June 5, 9, 1992, read with corrigendum dated July 15, 1992, of the Company Law Board (hereinafter referred to as "CLB").2. The third respondent is a private limited company incorporated on September 20, 1976, under the Act. Respondents Nos. 1 and 2, namely, Shri Shyamal Mondal and Smt. Mira Mondal, who are husband and wife are the subscribers to the memorandum of association and also the first directors of the company. I...
Tag this Judgment!Court : Company Law Board CLB
Reported in : (1995)82CompCas563
1. Mrs. Rashmi Seth has filed in all three petitions on September 24, 1991 and October 24, 1991, under Section 397/398 and Section 235/237/ 408 of the Companies Act, 1956, respectively, against Chemon (India) Pvt. Ltd. (hereinafter referred to as "the company") and Shri Chetan Seth, respondent No. 2, alleging oppression and mismanagement.Respondent No. 2, Shri Chetan Seth, is the husband of the petitioner.2. The admitted facts of the case are that Chemon (India) Pvt. Ltd. was incorporated on August 25, 1975, by Shri Chetan Seth and Mrs. Monica Velinkar, his sister. Out of the initial capital of 410 equity shares, 400 shares were subscribed by respondent No. 2 and 10 shares by his sister. The petitioner and respondent No. 2 were married in January, 1976, and she was allotted 200 shares on June 15, 1977. Originally, respondent No. 2 and his sister were the directors in the company. The petitioner was inducted as additional director from June 15, 1977, and was reappointed as director at ...
Tag this Judgment!Court : Company Law Board CLB
Reported in : (1995)82CompCas409
1. Mrs. Rashmi Seth has filed three petitions on September 24. 1991, and October 24, 1991, under Section 397/398 and Section 235/237 and 408 of the Companies Act, 1956, respectively, against Tillsoil Farms Pvt.Ltd. (hereinafter referred to as "the company") and Shri Chetan Seth (respondent No. 2) and Shri N.D. Tayal (respondent No. 3), directors of the company, alleging that actions of the respondents are highly oppressive to the petitioner and also prejudicial to public interest and against the interest of the company. Shri Chetan Seth is the husband of the petitioner. Tillsoil Farms Pvt. Ltd. was incorporated on June 10, 1983, by the petitioner, Mrs. Rashmi Seth, and her mother-in-law, Mrs. Nita Seth, who were the only subscribers to the memorandum and articles of association and were also the only two shareholders and directors of the company at the time of its incorporation. Out of the paid-up capital of 20 shares of Rs. 100 each, 10 equity shares were held by the petitioner and t...
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