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2015 (10) TMI 955 - ANDHRA PRADESH HIGH COURTJurisdiction of CLB under Section 111A in case of Fraud – Appellants contended that sales consideration for transfer of shares has not been paid in full – Date of transfer of shares given by the Respondents clashes at different instances – Appellant further contends that they did not cease to be the members – Respondents contend that the appellants have played fraud against them with regard to share transfer – Further holds that the Civil Court alone has the jurisdiction to enquire into allegations of fraud – Respondents states further that the petition filed by appellants on the basis of the continued membership is contrary to the record. Held That:- Jurisdiction of the CLB is summary in nature in case of allegations such as fraud - Proper remedy is to first approach the Civil Court before approaching the CLB with an application under Section 111A - Disputes raised by the appellants are not confined to rectification – Appellants advised to approach the Civil Court for relief succeeding in the same it can then approach the CLB for rectification of the Register – Decided in favour of the Respondents.
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