( 1 ) SUDERSHAN Talkies (Delhi) Private Ltd. (herein called the petitioner) took over the business of Sudershan Talkies, including its assets and liabilities, owned by Sarvshri Brij Lal Chawla and Surender Chawla in lieu of which 1440 equity shares of Rs. 100. 00 each of Sudershan Talkies (Private) Ltd. were allotted to them. The Company in pursuance of the provisions of section 75 (1) of the Companies Act, 1956 (1 of 1956) (herein called. the Companies Act) filed a return before the Registrar of Companies in respect of the said 1440 fully paid up shares for Rs. 100. 00 each allotted to Brij Lal Chawla and Surender Chawla for having acquired the business of Sudershan Talkies for a total consideration of Rs. 1,45,354. 85 paise. Since no deed had been executed between the parties in respect of this transaction the particulars of the contract for allotment of the above-said shares, required to be furnished under section 75 (2) of the Companies Act, were furnished in Form 3 prescribed under the Companies Act. Stamp duty of Rs. 5. 00 was paid on Form 3, by affixing the adhesive stamp of the said value on it.

( 2 ) THE Assistant Registrar of Companies, on examining Form 3, w