9911796707
TMI Blog2008 (6) TMI 356X X X X Extracts X X X X X X X X Extracts X X X X ..... be transferred in his name. The same has been published inviting the objections, if any, to the claims in respect of transfer of shares in question by the company. It is stated by the respondent’s counsel that the public notice was published on 11-12-2007 and so far, neither objections nor counter-claim is received from any interested person. In the absence of the same, direction was issued to the respondent by the Board to execute the indemnity bond in the company’s favour to transfer the shares in his name. We are in respectful agreement with the order passed by the Company Law Board and the appeal filed by the appellants does not call for our interference. Hence, the appeal is devoid of merits and is, accordingly, dismissed. - COMPANY A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he respondents are required to get the succession certificate by initiating appropriate legal proceedings before the jurisdictional civil court and produce the same before the first appellant to register him as shareholder of the shares of his deceased father in the relevant register. In the absence of the same direction issued by the Company Law Board to the appellants is not legal and valid. Therefore, the order impugned is unsustainable in law and is liable to be set aside. 3. Learned counsel for the respondent has sought to justify the impugned order passed by the Company Law Board placing strong reliance upon the provisions of section 111(5) of the Act after examining the claim of the respondent as the same is in conformity with se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e relevant provisions of the Act, viz., sections 111(5) and 108, read with regulation 26 of the Regulations with reference to the reasons assigned by the Company Law Board in the impugned order. No doubt, the order is a cryptic one, the claim is examined by the Company Law Board and considered the same and passed the order. The said order is in conformity with the provisions of section 108 of the Act read with regulation 26 particularly having regard to the undisputed fact that the respondent is the son of the deceased K.C. Thomas, further the copy of the Will produced before the Company Law Board clearly states that the properties of the deceased K.C. Thomas could be partitioned into three parts between the wife, son and daughter. The sh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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