9911796707
TMI Blog2019 (11) TMI 1558X X X X Extracts X X X X X X X X Extracts X X X X ..... l is preferred. 2. The appellant's case in short is as under:- That one Brescon Advisory Ltd. has acquired 1500 shares of Eicher Motor Limited (hereinafter referred to as 'Eicher') on 8th December, 1995. Later on Brescon Advisory Ltd. was changed to Brescon Consultants Private Limited. Later on however it was amalgamated with the present appellant in the year 2016 vide the order of the Bombay High Court dated 26th February, 2016. Thus, the appellant became the holder of the 1500 shares of Eicher. In January, 2016 the appellant found that shares were misplaced and, therefore, it made enquiry with Registrar and Transfer Agent of Eicher i.e. Link Intime Pvt. Ltd. (hereinafter called as 'Link Intime'). The Link Intime was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t (hereinafter referred to as 'first complaint') on the SCORES platform on 29th November, 2016. After much persuasion, respondent SEBI on 31st May, 2016 reported to the appellant that the said complaint has been closed. The reason that was forwarded by SEBI was that the orders in the cases of Manoj D. Shah and Another and Ms. Adesh Kaur passed by SEBI were challenged before this Tribunal. Vide order dated 7th February, 2017 the orders were set aside and SEBI was directed to pass fresh order. Thereupon Ms. Adesh has approached National Company Law Tribunal, New Delhi (hereinafter referred to as 'NCLT') by filing complaint for rectification of the register of company. NCLT had directed for rectification of the register of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Mr. Pradeep Sancheti, learned Senior counsel for the respondent. 7. Mr. Vinay Chauhan, the learned counsel submitted that the order of SEBI dated 31st May, 2017 disposing of the first complaint of the appellant is wrong. SEBI is very well empowered to conduct the investigation in the misconduct committed by Link Intime i.e. Registrar and Transfer Agent of Eicher approved by SEBI. He submitted that the order of NCLT would also show that NCLT found it fit that SEBI's assistance on the contemplated action at SEBI's end would be necessary. He submits that the present case as well as the other cases detailed supra would show that Link Intime has committed misconduct and the SEBI can very well issue directions to the said Registrar and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bunal. 10. In the circumstances without going into the merits of the case the appeal is liable to be dismissed as the appellant could not have raised the same issue vide complaints after complaints before SEBI and then thought it fit to challenge the last of the communication. If the appellant was aggrieved by the speaking order of the SEBI dated 31st May, 2017, it could have very well filed appeal before this Tribunal at that point of time. 11. The history of the case of Ms. Adesh Kaur would show that NCLT is competent to issue direction for rectification of the register of Eicher under section 111A of the Companies Act. 12. In the circumstances, the following order: The appeal is hereby dismissed. The appellant is at liberty to take s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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