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2016 (4) TMI 1101 - HC - Companies LawRestoration of names in the register of the members of the company - Held that:- CLB has considered the matter in detail with regard to the relief sought by the appellants herein insofar as restoration of their names in the register of the members of the company is concerned as per shareholding pattern as on 31/3/2005. As already noted, the appellants have no grievance with regard to that aspect of the matter. But in the latter portion of the impugned order, we find that the CLB has contradicted itself on the one hand by observing that the appellants appearing before the CLB had no locus standi to seek other reliefs while on the other hand by holding that they had not made out a prima facie case to seek the other reliefs. In our view, that is incorrect as once their names were restored in the shareholding pattern as also on restoration of their names in the register of the members of the company, they also had locus standi to seek other reliefs. So far as other reliefs are concerned, we find from the impugned order of the CLB that it has simply observed that the appellants have not made out any prima facie case, particularly with regard to the oppressive acts purported to have been committed by the respondents, which were prejudicial to the interest of the company. The observations of the CLB while disposing the matter, are, to say the least, without going into the pleadings and also the material brought on record by the parties in that regard. The impugned order is cryptic and unsatisfactory without reference to the said material on record. In the circumstances, we are of the view that the matter has to be remanded to the CLB for reconsideration of the case insofar as the other reliefs sought by the appellants herein before the CLB are concerned. As far as the relief granted by the CLB with regard to restoration of the shareholding pattern as on 31/3/2005 and the consequential reports issued are concerned, they are not interfered with in the appeal.
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