TMI Blog2010 (12) TMI 1069X X X X Extracts X X X X X X X X Extracts X X X X ..... main of the Company Law Board to make the necessary rectification in the register of members. As is evident from the averments made in the plaint and the prayer clause of the plaint, these prayers of the plaintiff could have been answered only by the Company Law Board. There is no perversity in the findings in the impugned judgment. No interference is called for. Substantial question of law is answered accordingly. Appeal dismissed. - R.S.A. NO. 77 OF 2003 - - - Dated:- 21-12-2010 - MS. INDERMEET KAUR, J. Ms. Amisha Upadhaya, Anish Kumar Maggo, Saurbah Mehra and Pawan Bhatia for the Appellant. JUDGMENT This appeal has impugned the judgment and decree dated November 15, 2002, which had endorsed the finding of the trial judge da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id shares which were accordingly sent. In spite of reminders, defendant No. 1, however, did not transfer the said shares in the name of the plaintiff. Suit was accordingly filed. 3. The preliminary objection in the written statement was that the suit is barred under sections 10 and 113 of the Companies Act, 1956 ; the Company Law Board is the only forum which could decide this controversy. The trial judge relied upon the judgment of the apex court reported in Shripal Jain v. Torrent Pharmaceuticals Ltd. [1995] Suppl. 4 SCC 590, to arrive at this finding. 4. The judgment of the trial judge was confirmed in appeal. The impugned judgment vide endorsing this finding had relied upon the judgment of High Court of Bombay reported in National I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hares which had been furnished by the plaintiff to the defendant. 8. In the judgment of Ammonia Supplies Corpn. (P.) Ltd. (supra ) the Supreme Court has expounded the definition of "rectification" as contained in section 155 of the Indian Companies Act. It necessarily connotes the same error in the register of members which requires a correction. Paragraph 27 of this judgment is relevant and the same is herein extracted. It reads as follows (page 326) : "In other words, in order to qualify for rectification, every procedure as prescribed under the Companies Act before recording the name in the register of the company has to be stated to have been complied with by the applicant at least that part as required by the Act and assertion of w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eror and by or on behalf of the transferee and have been delivered to the company along with the certificates relating to the shares. 10. Section 155 of the said Act reads as under : "155. Power of court to rectify register of members.-(1) If- (a)the name of any person- (i)is without sufficient cause, entered in the register of members of a company, or (ii)after having been entered in the register is, without sufficient cause, omitted therefrom ; or (b)default is made, or unnecessary delay takes place, in entering on the register the fact of any person having become, or ceased to be a member ; the person aggrieved, or any member of the company, or the company, may apply to the court for rectification of the register." 11. Su ..... X X X X Extracts X X X X X X X X Extracts X X X X
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