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2017 (8) TMI 1716 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHIMaintainability of petition under Sections 397 and 398 of the Companies Act, 1956 - claim under Section 59 of the Companies Act, 2013 - name of the appellant's has not recorded in the register of shareholder - HELD THAT:- Except a member qualified in terms of Section 399 (now Section 244 of the Companies Act, 2013), no other person is entitle to file any petition under Sections 397 and 398 (now Section 241 and 242 of the Companies Act, 2013), the application at the instance of the applicant under Sections 397 and 398 was not maintainable. Application under Section 59 of the Companies Act, 2013 - HELD THAT:- Once the Tribunal held that petition under Sections 397 and 398, was not maintainable, the Tribunal was not required to decide the merit of the claim under Section 59 of the Companies Act, 2013, which is required to be decided on different criteria. As the petition was not maintainable before the Tribunal, it was not open to the Tribunal to give any finding with regard to the merit of the claim under Section 59 of the Companies Act, 2013. The observation of the Tribunal with regard to the merit of the application under Section 59 of the Companies Act, 2013 are set aside. The order dated lOth March, 2017 stands modified - application preferred by the appellant under Sections 397 and 398 is dismissed. Appeal disposed off.
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