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2015 (6) TMI 533 - Board - Companies LawRectification in Register of Members - Sections 58 and 59 of the Companies Act, 2013 - Indemnity Insurance Policy to cover risk related to certain losses including loss of shares - Held that:- The Respondent Nos. 1 to 3 have stated therein that the Respondent No.l being neutral party having no vested interest in the subject matter of the Appeal have no objection of whatsoever nature, if the CLB pass a favourable order as prayed by the Appellant, the list of shares as on date being annexed to the Company Appeal. I have heard the parties and perused the record. Having considered the submissions advanced on behalf of the Parties and in the facts and circumstances of the case, the Appeal is allowed in terms of prayer 6.1 to 6.3 made in the Company Appeal, subject to furnishing an Indemnity Bond by the Appellant to the satisfaction of Respondent No.1 Company. The Respondent Nos.1 and 2 upon receiving such Indemnity Bond shall rectify its Register of Members by inserting the name of the Appellant Company in place of the Transferors of the respective shares. It is, however, made clear that this order shall not be treated as a precedent in other cases, keeping in view of the fact that the Respondent Nos. l to 3 have not opposed the prayer made by the Appellant in the Instant Company Appeal. - Decided in favour of appellant.
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