Judgment Search Results Home > Cases Phrase: the registration orissa amendment act 1989 Court: company law board clb Page 9 of about 126 results (0.148 seconds)

State Bank of India Vs. Shakthi Cotton Process (P.) Ltd.

Court : Company Law Board CLB

Reported in : (2004)120CompCas219

..... pointed out that the companies have refused o sign forms 8 & 13 in terms of rule 6(d) of the companies (central government's) general rules and forms, 1956 ("the general rules & forms, 1956"), which, according to him, in no way affect the present petitions for the following among other reasons :-- section 134 provides that it shall be the duty of a company to file with the registrar for registration of the particulars of every charge created by the company, but, at the same time registration of the charge may also be effected on the application of any person ..... the interested person is entitled to recover from the company the amount of any fees paid by him to the registrar on the registration. ..... though the petitioners are empowered to invoke the provisions of section 614 seeking directions against the companies to sign forms 8 & 13 and thereafter enforce the order of the clb under section 634a, these measures are circuitous and any delay will affect the interests of the chargeholders on account of non-registration of modification of the charges.6. ..... 2,000 - (rupees two thousand only) by sbm as costs under section 141(2) of the act to the registrar of companies, karnataka and registrar of companies, andhra pradesh, hyderabad respectively. ..... prior to amendment of rule 6, there was no requirement of the creditor and the borrower signing forms 6 & 18. .....

Anil R. Chhabria Vs. Finolex Industries Ltd. and

Court : Company Law Board CLB

Reported in : (2000)99CompCas168

..... but once the petitioner produced the succession certificate issued by a competent court, in the absence of any stay/injunction against registering the transmission, the action of the companies in refusing/delaying the registration of transmission cannot be considered to be with sufficient cause and as such was not at all justified.another important aspect that we have noticed is that there is nothing on record to show that the board of directors of the companies considered the delivery of the intimation of transfer after the petitioner lodged a copy of the succession certificate. ..... while delivery of the instrument of transfer is a must to seek registration of transfer of shares in terms of the mandatory provisions of section 108 of the act, the term "delivery of intimation of, transfer" requires examination. ..... the petitioner thereafter obtained a succession certificate from the civil judge, senior division, pune, on february 24,1989, by which the petitioner was entitled to 100 per cent, of the debts and properties of the estate of the deceased. ..... thereafter, the petitioner obtained a succession certificate fraudulently without disclosing full particulars for 100 per cent, debts and properties of the deceased and applied to the companies in june, 1989, for transmission. ..... 526 of 1989 in so far as the remaining 75 per cent, interest of respondents nos. ..... however, she also expired sometime in september, 1989. .....

S. Ajit Singh Vs. Dss Enterprises (P.) Ltd.

Court : Company Law Board CLB

..... under these circumstances, granting the prayer of the petitioners that they should continue to hold 50 per cent shares in the company and that they should have equal representation on the board, not only be unfair to the respondents who had nurtured the company when the petitioners had not taken any interest in the affairs of the company, but also, in view of the estranged relationship between the parties only escalate further disputes in the affairs of the company which would not be in the interest of the company. ..... further, we also note that the proposal to amend the articles providing for full voting rights in case of poll on partly paid shares is also against the provisions of section 87(1)(b) of the act according to which voting right on poll shall be in proportion to one's share of the paid up capital of the company. ..... 5 lakhs to 10 lakhs and subsequently on 25-5-1989 the name of the company was formally changed and the certificate issued in the name of dss enterprises (p. ..... on 27-3-1989 further 900 shares were allotted by the first respondent-company which were equally divided amongst the two families of the brothers with 450 shares being allotted to second petitioner and balance 450 to the second respondent. ..... on 28-3-1989 the authorised capital of the company was increased from rs. .....

Multimedia Frontiers Limited Vs. Software Frontiers Limited and

Court : Company Law Board CLB

Reported in : (2007)75SCL511

..... shri harikrishnan, learned senior counsel, while elaborating the evolution of the provisions of section 111 pointed out that the companies (amendment) act, 1988, which came into force with effect from 31.05.1991 assimilated the old section 111 and 155 and conferred the powers of the court under section 155 on the company law board and the powers of the central government under section 111. ..... , the instrument of transfer being "duly stamped", in the case before the clb, the registration of the transfers of the shares in the name of the respondent nos. ..... in view of this legal position, the registration of transfer of the shares, on the strength of the instruments of transfers, being unstamped, held in the name of the petitioner by the company in favour of the respondent nos. ..... if an instrument of transfer is not duly stamped, the instrument and consequently, the registration of the transfer are invalid. ..... hence, the petitioner has no authority to file the present petition, reversing the registration of transfer of the impugned shares.7. ..... the apex court in mannalal khetan v.kedar nath khetan (1977) 47cc 185, while considering section 108, categorically held that the provisions of this section are mandatory in regard to transfer of shares and that without production of the share certificate along with the share transfer deed, the transfer cannot be registered and if registered, such registration would be void. .....

Citi Bank Na Vs. Power Grid Corporation of India

Court : Company Law Board CLB

Reported in : (1995)83CompCas454

..... quoting from the statement of objects and reasons relating to the companies (amendment) act, 1988, in respect of assimilation of the provisions of section 155 in section 111, he stated that the entire section 155 has been reproduced in section 111(4) and, therefore, whatever the high courts have observed in respect of the applicability of section 155, the same should apply to a petition under section 111(4). ..... his argument is that if at all transfer matters could be considered under section 111(4) it could be only after either the company law board or the high court or a civil court has given a verdict or direction to the company to effect the registration of transfers and the right to become a member has crystallised and the company still delays effecting the transfer. ..... even though this petition was under section 111(4) and maintainable, he pointed out, assuming that it is not maintainable, this petition could very well be considered under section 111(3) inasmuch as the petition was filed within two months from the date of the letter of refusal, as in the case of refusal, the time will start running from the date of refusal and it has no relevance to the date of lodgment as the cause of action would accrue to the aggrieved only from the date of refusal of registration of transfer. .....

Mrs. Pushpa Vadera Vs. Thomas Cook (India) Ltd.

Court : Company Law Board CLB

Reported in : (1996)87CompCas921

..... we proceed to consider these issues, it is necessary to note that both as per section 111 of the companies act and the articles of association of the company it is the company which has the power to register or refuse the registration of transfer/transmission of shares.in the present case, right from 1986 till 1990, it is respondent no. ..... from the contents of the letter, even though it is not apparent that the company had refused the registration of transmission of shares, yet the message is clear that without production of the letter of probate, shares could not be transmitted as is evident from the second paragraph of ..... to what has been stated in the reply, it is further stated that in view of the facts and circumstances of the case and/or having regard to the provisions of the articles of association and the companies act and/or otherwise the company law board should not pass or be pleased to pass orders for registration of transmission of shares in the name of the appellant.6. ..... [1989] 2 comp lj 344 (clb), wherein it was held that even where the directors enjoy a general and blanket power of refusal under the articles of the company, it does not become an absolute power and it too should be exercised only in the interest of the company and in order to enable the company law board or the court to examine whether it was so exercised, it is necessary that the directors should give ..... it was only on december 12, 1989, that one of the sons of appellant addressed a personal letter to .....

Dale and Carrington Investments Vs. P.K. Prathapan

Court : Company Law Board CLB

Reported in : (2002)111CompCas410

..... therefore, the question of obtaining permission will only be relevant, at the time of the registration of the transfer. ..... one is that no consideration had been received in respect of the shares allotted to the respondents and the second is that by allotment of shares only to the respondents, the petitioners have been converted into a minority.it is contended by the petitioners that the company was incorporated for the benefit of the petitioners and their family members and they were majority shareholders holding 70 per cent shares in the year 1989.it is on record that the company was incorporated by the second and third respondents by subscribing 50 shares each and they were ..... the alleged acts of oppression and mismanagement relate to the following : (i) illegal allotment of 17,865 equity shares of the company in favour of respondents 2 to 5, 8 and 11; (ii) the aets of the second respondent in respect of the management and affairs of the company in a manner prejudicial to the interests of the petitioners; and (iii) manipulation of the records and documents of the company to the detriment of the petitioners and misuse of the funds and assets of the company by the second respondent.4. .....

Pinaki Das Gupta Vs. Maadhyam Advertising (P.) Ltd.

Court : Company Law Board CLB

..... he has also averred in the amendment application that without the knowledge and consent of the petitioner, the 3rd respondent, who was one of the promoters of the company, had entered into an mou on 23-2-2000 claiming himself to represent the shareholders and the company with publicis for sale of the entire 100 per cent shares of the company. ..... in the application, the respondents have sought for referring the matter to arbitration in terms of section 8 of the arbitration act on the ground that the entire petition is based on the agreement dated 15-1-2001 in which there is an arbitration clause providing for reference to a sole arbitrator all the disputes arising out of the said agreement.4. ms. ..... 1 and 2 companies not to give effect to the transfer and registration of the shares of respondent no. ..... 2 or anybody else till the specific performance of all the terms and conditions of the said agreement for sale of shares dated 15-1-2001 entered into amongst the petitioner and the respondents and in the meanwhile to return to the petitioner the shares owned by the petitioner along with the shared transfer forms duly signed by the petitioner and in the possession of the respondent. .....

Bpl Communications Limited and Vs. Shri T.P.G. Nambiar, Electro

Court : Company Law Board CLB

Reported in : (2006)132CompCas13

..... if shares are sold to outsiders and the registration of transfer is not prohibited, this board will not be in a position to pass any binding order on such future purchasers. ..... this board prohibited the registration of transfer of shares by any member in the respondent no. ..... 1 company discloses the registration of transfer of 1,48,70,000 non-convertible preference shares of rs. ..... after considering the elaborate arguments of the learned senior counsel, the following issues arise for my consideration: - (i) whether any modification of the order dated 17.03.2005 by this bench would amount to review and if so, whether this bench has review powers; (ii) if not so, whether this bench in exercise of the powers under section 403 of the act read with regulation 44 of the regulations, 1991 is empowered to grant the interim reliefs claimed by the applicants in the facts of the present case; (iii) whether the respondent no. ..... without an amendment of the plaint, the court was not entitled to grant the relief not asked for by the party.sopan sukhdeo sable v. ..... the company petition must necessarily be amended incorporating the necessary averments in relation to the proposed respondent no. .....

Arun Kumar Mallick Vs. Hindustan Lever Ltd.

Court : Company Law Board CLB

Reported in : (2002)112CompCas464

..... in this connection, he referred to provisions of section 111a(3) and submitted that as per the provisions of the said section, rectification of the register of members may be ordered by the clb, if the transfer of shares has been registered by a public limited company in violation of the securities and exchange board of india act, 1992 or regulations made thereunder or the sick industrial companies (special provisions) act, 1985 or any other law for the time being in force.to attract the provisions of section 111a(3), first of all, the transfer of shares must be effected. ..... in this regard, it has been submitted by the petitioner that as per order of the hon'ble bench dated 21-9-2000, an application for amendment of the petition under section 111 to be read as under section 111a was filed by an affidavit on 13-11-2000.accordingly, we have treated this petition as filed under section 111a and have proceeded to hear this petition on merits.5. ..... in its reply dated 4-7-1998 to the said representation, the respondent-company stated that the share certificates in respect of the said shares had already been sent to him on 6-10-1997 vide registration no. ..... 2976084 had already been dispatched to the petitioner's registered address on 3-10-1997 and 2-1-1998 vide postal registration nos. .....