JUDGMENT :

Sanjay Kumar, J.

1. Orders alike, dismissing their claims, having been passed by the original and appellate forums, Chalasani Udaya Shankar, Sripathi Sreevana Reddy and Yalamanchilli Manjusha are in appeal under Section 423 of the Companies Act, 2013 [for brevity, ‘the Act of 2013’].

2. The appellants had approached the National Company Law Tribunal, Hyderabad/Amaravati Bench [for brevity, ‘the NCLT’], by way of Company Petition No. 667/59 & 241/HDB/2018, seeking rectification of the Register of Members of M/s. Lexus Technologies Pvt. Ltd., Vijayawada, Andhra Pradesh, respondent No.1, by entering their names therein under Sections 59 and 88 of the Act of 2013, and to initiate action against Mantena Narasa Raju, Appa Rao Mukkamala and Suresh Anne, respondent Nos. 2,3 and 4, for oppression and mismanagement, apart from criminal proceedings under Sections 447 and 448 of the Act of 2013 for committing fraud.

3. Their case, as set out in the Company Petition, was as follows: M/s. Lexus Technologies Pvt. Ltd. was incorporated under the provisions of the Companies Act, 1956, on 28.03.2000. Its authorized share capital was Rs.1,50,00,000/-, divided into 15,00,000 equity shares of Rs