Court : Company Law Board CLB Delhi
..... only in cases of rectification of register in relation to transfer/transmission of shares. it is to be noted that before amendment to the companies act in 1988, the provisions of section 111 of the act were part of two sections, namely, section 111 and section 155. while the present provisions of section 111(1) to (3) were a part of ..... legal suit between the two groups is barred. 4. shri choudhary, sr. advocate appearing for the petitioner submitted : 40 per cent of the shares of the company are held by the 2nd respondent on behalf of up group. in terms of article 2(j), any corporate entity which holds shares on behalf of either of the two groups should ..... why the petitioners should seek rectification on the ground that the up group has lost its exclusive control [article 2(j) does not talk of exclusive control] over the 2nd respondent. 14. shri sarkar submitted, relying on sulpher dyes ltd.s case (supra) that no share can exist without someone exercising rights over the shares and if not .....
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