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2020 (11) TMI 547 - AT - Companies LawTransfer of Equity Shares - Section 56 of the Companies Act, 2013 - specific case of the Appellant is that in the ‘Share Transfer Form’ SH- 4 furnished by the Respondent, the distinctive number of the share was not mentioned, corresponding certificate numbers were not mentioned, witness signature and name was not found, the Transferee’s details was not mentioned - HELD THAT:- It is the version of the Respondent that the Appellants’ ‘Grounds of Appeal’ and the ‘Questions of Law’ are based on non-existent ‘Articles of Association’ dated 18.02.1992 which is a forged and fabricated document with a view to mislead this Tribunal in reversing the findings of the impugned order. For the fraudulent acts committed by the Company and its Directors an investigation is to be ordered and a direction for filing of criminal complaint under the provisions of the Companies Act is to be issued, in the interest of justice. In the instant case the Respondent had furnished the Indemnity Bonds / Sworn Affidavit to the effect that they had lost the original share certificates and that the first Appellant / Company was requested for issuance of ‘Duplicate Share Certificates’ to the Respondent / Petitioner since the shares were sold. When the original share certificates were lost / mislaid / untraceable, it is not prudent for the Appellants to insist upon the production of original share certificates in question to effect the transfer of shares, as opined by this Tribunal. Besides this, the other reasons projected on behalf of the Appellants that just because the Respondent / Petitioner had filed numerous criminal / civil cases and that he was not attending the ‘Board Meetings’ and he would create problems for smooth functioning of affairs of the Company will not hold water and they are unworthy of acceptance in the considered opinion of this Appellate Tribunal. Taking into consideration of the facts and circumstances of the present case in a holistic fashion, especially in the teeth of rejection of transfer of shares through letter dated 30.10.2015 mentioning two reasons therein, this Tribunal without any simmering doubt holds that they are clearly unsustainable in the eye of Law and hence, the said letter dated 30.10.2015 was set aside in the impugned order, by the National Company Law Tribunal, Bengaluru Bench, Bengaluru. Appeal dismissed.
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