TMI BlogPower to refuse registration and appeal against refusal.X X X X Extracts X X X X X X X X Extracts X X X X ..... giving intimation of such transmission, as the case may be, giving reasons for such refusal. (2) The transferor or transferee, or the person who gave intimation of the transmission by operation of law, as the case may be, may appeal to the [2] [Tribunal] against any refusal of the company to register the transfer or transmission, or against any failure on its part within the period referred to in sub-section (1), [3] either to register the transfer or transmission or to send notice of its refusal to register the same. (3) An appeal under sub-section (2) shall be made within two months of the receipt of the notice of such refusal or, where no notice has been sent by the company, within four months from the date on which t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osts as it thinks fit; and (c) incidental or consequential orders regarding payment of dividend or the allotment of bonus or rights shares. (7) On any application under this section, the [6] [Tribunal] ___ (a) may decide any question relating to the title of any person who is a party to the application to have his name entered in, or omitted from, the register; (b) generally, may decide any question which it is necessary or expedient to decide in connection with the application for rectification. (8) The provisions of sub-sections (4) to (7) shall apply in relation to the rectification of the register of debenture holders as they apply in relation to the rectification of the register of members. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h any of the provisions of this section, the company and every officer of the company who is in default, shall be punishable with fine which may extend to [10] [five hundred rupees] for every day during which the default continues. (13) Nothing in this section and section 108, 109 or 110 shall prejudice any power of a private company under its articles to enforce the restrictions contained therein against the right to transfer the shares of such company.] [11] [(14) In this section "company" means a private company and includes a private company which had become a public company by virtue of section 43A of this Act.] ------------------------------- Notes:- [1] Substituted by the Companies (Amendment) A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... part, within the period referred to in sub-section (2), either to register the transfer or transmission or to send notice of its refusal to register the same. (4) An appeal to the Central Government under sub-section (3) shall be made (a) in case the appeal is against the refusal to register a transfer or transmission, within two months of the receipt by him of the notice of refusal; and (b) in case the appeal is against the failure referred to in sub-section (3), within two months from the expiry of the period referred to in sub-section (2). (4A) Every appeal under sub-section (3) shall be made by a petition in writing and shall be accompanied by such fee not exceeding fifty rupees as may be prescribed by the Central Government. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ise. (8) In the case of a private company which is not a subsidiary of a public company, where the right to any shares or interest of a member in, or debentures of, the company, is transmitted by a sale thereof held by a Court or other public authority, the provisions of sub-sections (3) to (7) shall apply as if the company were a public company: Provided that the Central Government may, in lieu of an order under sub-section (5), pass an order directing the company to register the transmission of the right unless any member or members of the company specified in the order acquire the right aforesaid within such time as may be allowed for the purpose by the order, on payment to the purchaser of the price paid by him therefor or such ot ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
