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KERALA HIGH COURT
M.P. Menon, J
Joseph Michael v. Travancore Rubber And Tea Co. Ltd.
| Table of Content |
|---|
| 1. petitioners seek share registration. (Para 1 , 2) |
| 2. court must examine delay in registration process. (Para 8 , 14 , 15) |
| 3. challenge to directors' refusal based on membership. (Para 10 , 12) |
| 4. directors must act reasonably and provide justifiable reasons. (Para 13 , 20) |
| 5. company ordered to rectify register. (Para 22) |
1. These Company Petitions were filed under S.155 of the Companies Act, 1956 for rectification of share register of the Travancore Rubber & Tea Company Ltd., which is a company limited by shares incorporated under the Travancore Companies Act, 9 of 1114 and having its registered office at Trivandrum. The Company is now governed by the provisions of the Companies Act, 1956. It is hereinafter referred to as the Company. Two brothers have filed these Company petitions, one brother figuring as the petitioner in each of these petitions.
2. The authorised capital of the Company is Rs. 1 crore divided into 3,00,000 6% cumulative preference shares of Rs. 10/- each and 7,00,000 equity shares of Rs. 10/- each. The issued and subscribed and paid up capital of the company is Rs. 57 lakhs consisting of 1,60,000 cumulative preference shares and 4,10,000 equity shar
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