Apply for rectification of register of members
1.When a request for registration of transfer or transmission of shares or other securities issued by a private company is refused by its directors to apply. Whether such refusal is in continuance of any control in a company under its articles or otherwise. The private company has thirty day for their instrument or transfer. The intimation of such transmission in the case may be delivered to the company. The company sends notice of the refusal of the transferor or to the person giving intimation of such transmission. Such intimation should contain the reasons for such refusal.
2.It is necessary to note that the shares or other interest or debentures of any member in a company is movable properties transferable by the articles of the company.
3.The transfer may request to the court against the substance has thirty days from the date of acknowledgment of the notice. If the company has sent no notice. A period of sixty days from the date on which the intimation of transmission or the instrument of transfer. The case may be delivered to the company.
4.If a public company without comfortable make reacts to register. The transfer of securities have thirty days on which the intimation of transmission or the instrument of transfer. It is delivered to the company. The transfer may inside a period of sixty days of such prohibition or where no intimation has been received by the company has ninety days of the delivery.
5.The above provisions are applicable only with respect to cases where the company has refused to register the request for registration of transfer of transmission. Even after submitting all necessary documents together, share transfer instruments. If applicable and evidence showing the death of the original security holder and will or legal heir certificate and succession certificate.
6.If the name of any person is without comfortable to make entered in the register of members of a company. It has been entered in the register is without sufficient causes omitted therefrom.The face of any person having ceased or become to be a member. The person aggrieved or any member of the company. The company may appeal in such form as may be prescribed or to a competent court outside in Coimbatore.
7.The above provisions show that it is possible to apply to the tribunal seeking an order directing. A company to rectify its register of members or register of other securities or records of a depository.
8.The word sufficient cause is to be tested in the act. The rules without comfortable is to make omitted or entered means eliminated or done to do in contradiction of the act and the rules.
9.It may be noted that the above provision comes to refusing to apply only in relation to a need for registration of members and not to register of any other securities. Further, where it pertains to registration of members or debenture holders residing near Coimbatore.
10.After, the tribunal proceeding the parties under sub-section (1) to the appeal by order. Dismiss the appeal or through the transmission or transfer shall be registered by the company have ten days. The receipt of the instruct or direct transition of the records of the facility.
11.The provisions of this section shall not restrict to transfer the right securities. Such securities and any person acquiring such securities shall be entitled to voting rights. The court is suspended the voting rights to apply in a company.
12.Where the transfer of securities is in resistance of any of the stipulations of the securities contracts (registration) act 1956.
13.The very word rectification connotes something what ought have been finished. The error is not finished to requiring correction.
14.The tribunal has not yet been constituted under section 408 of the 2013 act. By virtue of the companies order 2013. The power of the tribunal under section 59 of the 2013 act has been conferred upon the company law board (CLB).
15.The application must be in the prescribed form in the company law board regulations 1991. The same must be filed with the prescribed fee in accordance with the company law board.
16.The fee on the application must be paid by way of demand draft duly drawn in favour of pay and accounts officer.
17.There are four benches of the Company Law Board (CLB ) in India they are Delhi, Chennai, Mumbai and Kolkata branch.
18.Application must be made to the bench under the jurisdiction of which the registration company is situated. For instance, a company having its registration in Coimbatore can file an application only before the Chennai bench.
19.Every application made to the CLB must be made in the form of a petition in the form to apply.
20.While making an application to the Company Law Board (CLB). The document is compulsory to attached with the petition as per regulation 18 of the CLB regulations to apply.
21.Where the company itself is the petitioner, enclose the following documents :
- Copy of the articles and memorandum of association.
- Latest auditor’s report and director’s report, profit and loss account, audited balance sheet,
- Authenticated copy of the extract of the register of members.
- Copy of the resolution of the board or committee of directors.
- Bank draft evidencing payment of application fee.
- Any other relevant documents is verified.
- Instrument verifying the petition.
- Two extra copies of the petition.
22.Where the substance is made by any other person, enclose the following documents :
- Documentary evidence in promote the statements made in the substance , containing the copy of the letter written by the petitioner to the company for the purpose of registration transfer. The impartation of the right to any share or interest in.
- The copied documents returned by the company.
- Affidavit verifying the petition.
- Any other relevant document.
- Memorandum of occurrence with copy of the board’s declaration or performed vakalatnama.
- Bank draft evidencing payment of application fee.
- Two extra copies of the petition.
23.Please note that the petitioner must serve an advance notice with a copy of the substance, reference or application on the respondent(s). They shall make evidence at the time of presentation of such service of petition, reference or application in (CLB) Company Law Board .
24.Where the number of examinee is more than five, the bench officer or secretary may permit the petitioner to file extra copies of the petition in the case of publish a notice to the respondents.
25.The general heading of the petition should also be in the form for an company registration in Coimbatore bench.
26.In the petition, please give the requisite particulars. The necessary documents deliver a brief statement of informations in a chronological order. The each paragraph containing as almost possible as different issue.There should be a declaration that the subject – matter of the application is within the venue of the branch. There should be a declaration that the application has been made inside the period of regulations.
28.The petition should be presented by the petitioner in person or through an authorized negotiation to the office of the branch or be sent by post for registration with acknowledgement due addressed to the secretary or a bench officer of the branch concerned as the case may be registered.
29.The CLB has the rights to direct the company or any other person concerned who is a respondent in the petition to pay damages to the person who is aggrieved. Meanwhile the Company Law Board (CLB) has controls to suspend the voting rights too on the shares or other securities which form the subject matter of the petition.
30.Please note that complicated questions of fact involving questions of title to other securities or shares may not be determined by CLB.The company may have such registration in Coimbatore bench.
31.If issues emerge, whether the petitioner is the owner of the shares. Whether there is forgery or fraud in holding the shares or the very few of the shares. Such issues will be beyond the jurisdiction of the company court will have to decide by the civil court.
32.For instance, a company having its registration in Coimbatore can file an application only before other bench have their registration is done. Please note that any default in complying with the order of the tribunal will entail a fine not less than one lakh. It may extend to five lakh.
