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2015 (10) TMI 265 - SC - Companies LawScope of power under Section 111 of the Companies Act, 1956 – Rectification of share register - Transmission and transfer of shares on the basis of succession certificate, transfer deed and revalidation letter issued by the ROC – High Court held that the succession certificate issued by the competent court had to be taken as conclusive evidence under Section 381 of the Indian Succession Act - Court had refused to grant any interim injunction in favour of UD Group and other plaintiffs - whether there is any real dispute between the parties about the entitlement of DR Group to have the shares transferred in their favour and whether the exercise of jurisdiction by the High Court is beyond the scope of Section 111 of the Companies Act. Held that:- there is no real dispute between the parties as held by the High Court. DR Group has furnished the succession certificate as well as the transfer deed executed by GD in their favour. The same had to be acted upon - DR Group followed the due procedure. It had the succession certificate in its favour apart from the transfer deed from GD, who admittedly inherited rights from LMJS. Will in favour of GD is beyond any dispute. Thus, the DR Group derived rights from the GD by documents executed by her in her lifetime and conveyed to the Company. Even if the Will of GD is not taken into account, for purposes of issue of rectification, the documents executed by GD clearly entitled the DR Group to have the rectification made - CLB had no justification to reject the claim of the DR Group and the High Court rightly reversed the said order – Decided against appellant.
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