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2017 (8) TMI 1654 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHIRectification of the Register of Members of Appellant company - Seeking recording of shares in question in the name of the Respondent Mrs. Adesh Kaur - HELD THAT:- The Appellant while acknowledged that the 1st Respondent/Petitioner may be a victim of fraud, the Tribunal noticed that certain procedure were not followed and that duplicate transfer shares had already been issued and transferred and dematerialised in favour of the 8th Respondent - Mr. Vikas Tara Singh. Thus, there being an allegation of impersonation and forgery of signature and fraud lodged already levelled by the 1st Respondent/Petitioner in respect of which a criminal complaint has been lodged and is pending with the Economic Offences Wing Cell of Mumbai Police. The matter has also been brought to the notice of SEBI, in the light of the decision of the Hon'ble Supreme Court in AMMONIA SUPPLIES CORPN. (P.) LTD. VERSUS MODERN PLASTIC CONTAINERS (P.) LTD. [1998 (9) TMI 427 - SUPREME COURT] it was not a fit case for Tribunal to exercise its power under Section 59 of the Companies Act, 2013 solely on the ground that the original certificates are in the physical possession of the 1st Respondent/Petitioner. This order will not come in the way of the 1st Respondent/petitioner to move before a Court of Competent Jurisdiction for appropriate relief, including declaration of title over the shares in question and/or for declaration that the transfer in favour of the 2nd Respondent or the 8th Respondent are illegal, being based on impersonation and fraud - petition dismissed.
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