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TMI Blog2015 (5) TMI 591X X X X Extracts X X X X X X X X Extracts X X X X ..... ons under the Companies Act dealing with rectification of share register, one is section 111 of the Act 1956 deal with private limited companies, another is section 111 A of the Act 1956 deal with public limited companies. It is true sub-section (4) of section 111 has not said rectification is limited transfer and transmission of the shares, whereas the heading of section 111A of the Act itself says rectification of register is on transfer, therefore, an issue in relation to allotment in public limited companies will not fall within the ambit of section 111A of the Act 1956. There is no provision in section 111A analogous to sub-section (4) of Section 111 of the Act 1956, therefore there being no provision under section 111A to go beyond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y numbered as plot Nos 177 178) situated at sector 3, Bawal Industrial Area to the petitioner for a total consideration of ₹ 1,75,00,000/-. 3. The petitioner further submits that the respondent received a total sum of ₹ 25,00,000/- as earnest money at the time the respondent entered into a sale agreement with the petitioner. The petitioner further submits that the payment of ₹ 25, 00,000/- to the respondent company is very much reflected in the agreement entered into on 10.03.2006. For the respondent company having failed to execute the sale deed as agreed in the agreement of sell, the petitioner initiated civil proceeding against the respondent company in the year 2009. Soon thereafter, on 25.03.2011, when the petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he averments of the CP without annexing any single document showing as to how the petitioner was made shareholder of the company, the respondent company reply has run through denials to the CP filed by the petitioner instead of justifying as to how the petitioner has been made shareholder in the company. 8. When this petition come for hearing, the petitioner counsel made her submissions, as to the respondent side, the counsel on behalf of the respondent side said no instructions have come from the respondent company, therefore they could not file sur-rejoinder as directed by this Bench nor in a position to make submissions on behalf of the respondent company. Thereby on hearing of the submission of the petitioner counsel, this CP has bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (3) The [Tribunal] may, on an application made by a depository, company, participant or investor or the Securities and Exchange Board of India, if the transfer of shares or debentures is in contravention of any of the provisions of the Securities and Exchange Board of India Act, 1992 (15 of 1992), or regulations made there under or the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986), or any other law for the time being in force, within two months from the date of transfer of any shares or debentures held by a depository or from the date on which the instrument of transfer or the intimation of the transmission was delivered to the company, as the case may be, after such inquiry as it thinks fit, direct any depository ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Act 1956 deal with private limited companies, another is section 111 A of the Act 1956 deal with public limited companies. It is true sub-section (4) of section 111 has not said rectification is limited transfer and transmission of the shares, whereas the heading of section 111A of the Act itself says rectification of register is on transfer, therefore, an issue in relation to allotment in public limited companies will not fall within the ambit of section 111A of the Act 1956. 11. As to Section l11A (2), it says the shares are freely transferable, the proviso to sub-section (2) says, when the company refuses to register transfer of shares without sufficient cause, the aggrieved will get a right to appeal before CLB, it is pertinen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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