Home Case Index All Cases Companies Law Companies Law + Board Companies Law - 2015 (12) TMI Board This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (12) TMI 1193 - Board - Companies LawOppression and mismanagement - transmission of shares - Petitioner has sought a declaration to the effect that he is owner and title holder of 7083.8 shares being the successor of the Estate of Mrs. Jayshree Soni who passed away intestate on 31/12/2012 - increasing the authorized share capital of the Respondent No.1 Company - Held that:- It is declared that the petitioner is entitled to l/5th share i.e. 7083 shares from the shares left by late Smt. Jayshree Soni. The Company is, therefore, directed to transmit the shares to the Petitioner. The Company is further directed to rectify its Register of Member by entering the name of the Petitioner to the extent of aforesaid 7083 shares of the Respondent No.1 Company. It is declared that the impugned special resolution dated 9/9/2013 passed by the Company thereby increasing the authorized share capital of the Respondent No.1 Company is bad in law, non-est and void and deserves to be set aside. It is set aside accordingly. Consequently, the allotment of further shares made on 23/10/2013 or any time thereafter is also void, bad in law and is accordingly set aside. Appropriate Forms in this regard shall be filed by the Company with the ROC, Gwalior. It is, however, clarified that the company is not precluded from increasing its authorized share capital in accordance with the law and pursuant thereto the Company may allot further shares to all the shareholders including legal heirs of Late Smt. Jayshree Soni as per law. M/s Pathak Anup & Associates, having its address 416, Sliver Arcade, 1, New Palasia, Indore- 452001 Tel: 0731-2432837, (Mob; 9425354043) is hereby appointed as a special auditor to conduct audit of the company for the years 2011-12, 2012-13, 2013-14 and 2014-15. In case, it is found that the Respondent Nos. 2 to 5 have diverted/misappropriated the funds of the Company's funds, and the company has suffered any loss the same shall be recovered from their personal resources and be paid back to the Company. The parties are directed to extend their co-operation to the said Auditors. The fees of the said Auditors shall be paid by the Company. The Special Auditors shall submit their report to the Company after completion of the audit within six weeks with effect from the date of receipt of the copy of this order. In future, all the notices to the Petitioner shall be served through R.P.A.D by the Company. The Petitioner shall inform the Company his address on which the notice is to be served within 15 days hereof.Other reliefs sought for by the Petitioner are hereby declined.
|