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2018 (2) TMI 414 - Tri - Companies LawRectification of the Register of Members of the Company - Transfer of shares - Held that:- Actions of the R1 and R2 would prove that the share of the petitioner has been transferred without his concurrence and the name of the petitioner has been deleted from the Register of Members without sufficient cause. Since, the transfer to R3 has been made by the Company knowing fully well that one more duplicate certificate is in existence and the transfer was made on the basis of the earlier duplicate share certificate, this Bench has no hesitation to declare that the petitioner has made out a case for ordering the rectification of Register of Members and that the transfer was made on forged documents and it is null and void. Since the first transfer to R3 is made on the forged documents, the question of non-joinder of party will not arise, therefore the preliminary objections of the R1 and R2 in this connection should fail. Further, the R3 ought to have contested the matter independently by filing the proof of payment made to the petitioner, but he has adopted the written statement of the R1 and R2 which shows the collusion between the R1, R2 and R3. If the transfer from R3 to Smt. S.M. Vijila is genuine, she should have approached this Tribunal suo motu in order to protect her interest in the shares, but she also failed to do so. Allow the petition and direct the Company to rectify the Register of Members by deleting the name of Mrs. S.M. Vijila and restore the name of the petitioner in that place within 30 days from the date of the receipt of this order.
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