TMI Blog2016 (2) TMI 908X X X X Extracts X X X X X X X X Extracts X X X X ..... its and further the consequential computation of the period of limitation. Even otherwise also, as rightly observed by the CLB, the question of genuineness of forged document or forged signature could be examined in the proceedings of the Civil suit and there cannot be any dispute that the Civil Court on the said aspects will have wider jurisdiction vis-à-vis jurisdiction of the CLB which is a summary jurisdiction. We leave it at that, since the Civil Court is yet to examine the matter in accordance with law. In view of the aforesaid, we find it appropriate to observe that the Civil Court in the proceedings of Civil Suit shall be at liberty to take an independent view of the matter on the basis of material and the evidence produced be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... questions are to be decided by the Civil Court. 4. The submission of the learned Counsel for the appellants was that the observations made by the CL B may not operate as a bar or may not come in the way of the appellants in pursuing the remedy of civil suit. He therefore submitted that this Court even if not inclined to entertain the appeals on the subject matter, may make suitable observations for the pending aforesaid two suits enabling the appellants to pursue the civil suits in accordance with law. 5. Whereas the learned Senior Counsel appearing for the respondents-Company and others submitted that the statement made during the course of the hearing of holding 43,990 shares by the first petitioner-appellant herein contrary to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d on behalf of the Company from time to time on the premise that the documents are genuine unless otherwise proved to the contrary before the competent forum and the declaration so made by the competent Civil Court after considering the respective date of the documents for filing of the return and other related documents thereto. The CLB has examined the question of limitation and has found that the petition was barred by law of limitation. 8. There is substance in the contention of the learned Counsel appearing for the appellants to the extent that in the event the documents are found to be forged, the operation of the period of limitation would vary and would not remain based on the documents of annual return which are found to be vali ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve wider jurisdiction vis- -vis jurisdiction of the CLB which is a summary jurisdiction. We leave it at that, since the Civil Court is yet to examine the matter in accordance with law. 11. In view of the aforesaid, we find it appropriate to observe that the Civil Court in the proceedings of Civil Suit Nos.9950/2015 and 9952/2015 shall be at liberty to take an independent view of the matter on the basis of material and the evidence produced before it and the observations made by the CLB on the point of limitation shall not operate as a bar upon the power of the Civil Court to examine the controversy in accordance with law. 12. In view of the above, we find that the submission made regarding holding of the share capital contrary to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
