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TMI Blog2015 (6) TMI 945X X X X Extracts X X X X X X X X Extracts X X X X ..... specific finding given by the learned court in respect of the above issues and without going into the merits of the case by conducting a detailed enquiry into the facts of the matter, the petition cannot be dismissed at threshold. In view of the reason, the application is miserably failed and liable to be dismissed. Further the CLH in the matter of S.V.T Spinning Mills Pvt Ltd. [2009 (7) TMI 776 - HIGH COURT OF MADRAS] had opined that the factual issues cannot be adjudicated as preliminary issue. I do follow the said principle in the above order. - Appeal dismissed. - CA No. 1/2013 IN CP Na. 91/2012 - - - Dated:- 26-2-2015 - SHRI KANTHI NARAHARI, J. For Applicants/Respondents : Shri. K.S Ravichandran, PCS For Respondent/Peti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reported in MANU/C1/0060/2010. 3. The respondent/petitioner tiled a detailed counter to this application. It is submitted that the 2ru applicant had removed all the records including original share certificates kept in my drawer and subsequently manipulated the records to suit his dishonest, selfish ends. In view of the reason the respondent herein disabled from relying on the company records which are in the possession of the 2 nd applicant. It is submitted that all the investments made by the respondent had been properly entered in the books of accounts of the company which were unauthorizedly removed by the 2 applicant. The contention of the applicants that none of the annual reports filed by the respondent does not show his name as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ort their illegal acts and claims. The applicants are liable to answer these allegations point by point since the allegations made by the respondent are specific. Finding it di fficult to answer the inconvenient issues raised in the above company petition, the applicants have resorted to a short-cut by filing the above company application, only with the unholy intention of protracting the proceedings. The respondent has established through Annexure A2 i.e. Memorandum and Articles of Association that he was one of the only two members of the company with 50% shareholding and maintain that there was no occasion for the respondent to cease to be a member by sale or transfer of the shares to anyone else. The respondent has eligibility to file a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de out any case seeking dismissal of the company petition. The grievance of the applicants is that though the petitioner claims to he subscribed for 25,000 shares but he has not produced any record nor correspondence or share certificate, bank account particulars for having paid any money to the company to show that he is holding and is entitled to be registered for the 25,000 shares. The respondents/petitioner contended that all the records including the books of accounts of the company were removed by the rd applicant from the registered office of the company and the rd applicant cannot claim that this respondent has not produced any record to show my shareholding and the investment made by him in the company. The respondent/petitioner fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the name of the petitioner was entered in the register of members in the applicant company under folio No.1 and the relative share certificate No.1 was issued to the petitioner. It is also stated that the company did not have the bank account, the petitioner remitted the amount in cash to the company and the necessary entries were passed in the books of accounts. Further it is also stated that the 2nd applicant who was also the co-promoter did not pay the money for shares and till now he has not paid the share application money. The main allegation of the petitioner is that the applicants have shifted the registered office of the company and the records were taken away by the 2nd applicant Herein_ Further it is also alleged that the name o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plicant herein. Further the court recorded its finding that the way in which and the timing at which Form 32 is seen submitted, also creates genuine doubt regarding the bonafides and the legality of the acts of the lad defendant who is the 2 d applicant herein. Further the court gave its finding which is extracted hereunder: Exhibit-A7 will show that the plaintiff (petitioner) was removed for non-attending the Board meeting repeatedly and also for non-payment of the value of equity shares subscribed by him as the subscriber to Memorandum of Association inspire qf repeated request. The defendant had not produced any of the earlier letters sent to the plaintiff calling upon him to pay the amount. As rightly pointed out by the plaintiff th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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