This company appeal impugns an order passed by the Company Law Board, Mumbai Bench, Mumbai (“CLB”) on petitions filed under Section 111(4) of the Companies Act, 1956 for rectification in the register of members. The petitions for rectification were filed in respect of eight different companies, who were arraigned respectively as Respondent No.1 in eight separate petitions. The facts of these eight petitions are more or less similar and considered hereinbelow in Company Appeal (L) No.41 of 2015 arising out of Company Petition No.19 of 2011 as a representative case.

2. The short facts of the Petitioner's case may be noted as follows :

(i) The Petitioner – Sulochana Neelkanth Kalyani (“Sulochana” or “Petitioner”) is one of the trustees of a private family trust known as “N.S. Trust”. This trust was settled by Mr. M.B. Hattarki, brother of Sulochana, under an Indenture of Trust dated 10 April 1999, the initial trustees of the trust being (1) Sulochana, (2) her late husband Dr. N.A. Kalyani (“Dr. Kalyani”), (3) Dilip Ganesh Karnik, now a retired Judge of this Court and then an advocate (“DGK”) and (4) Srikrishna Narhari Inamdar, a Chartered Accountant (“SNI”).

(ii) Respondent No.