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2010 (4) TMI 609 - HC - Companies LawWhether the remedy of an appeal lies under section 111A of the Companies Act, 1956 in respect of allotment of shares made by a public company? Held that:- Section 111A would not apply in the case of an allotment of shares. The Legislature which is aware of the existing position when makes a conscious departure of such a nature, in my opinion, there would be no room to infer that the right of appeal provided by sub-section (4) of section 111A is to be read in consonance with sub-sections (2) and (3) of section 111A by equating transfer of shares with the allotment of shares. It is thus clear there is no right of appeal provided by section 111A in relation to the public limited companies, which was contained in sub-section (4) of section 111 of the Companies Act. It is thus clear that the plaintiff would not be entitled to approach the Company Law Board for seeking the reliefs that are prayed for in the civil suit and, therefore, there is no question of jurisdiction of the civil court being barred by the availability of remedy to the plaintiff under section 111A of the Companies Act. Appeal dismissed.
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