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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Ajai Das Mehrotra, Member (Technical)
IndusInd Bank Limited – Appellant
Versus
Neetu R. Menda – Respondent
| Table of Content |
|---|
| 1. appeal against nclt order restoring shares (Para 1) |
| 2. factual sequence of share ownership and demat request (Para 2) |
| 3. nclt finding negligence in issuing duplicate shares (Para 3 , 21) |
| 4. appellants argue summary jurisdiction and limitation (Para 4 , 5 , 6 , 7 , 9 , 22) |
| 5. respondent highlights procedural lapses and fraud (Para 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19 , 20) |
| 6. court rejects limitation; notices sent wrongly (Para 23 , 24 , 25 , 26) |
| 7. section 59 empowers rectification and damages (Para 27 , 28 , 29 , 30 , 31) |
| 8. discrepancies in transfer deed and documents (Para 32 , 33 , 34) |
| 9. sebi guidelines mandate indemnity from holder (Para 35 , 36 , 37 , 38) |
| 10. company negligent; failed to inform shareholder (Para 39 , 40 , 41) |
| 11. precedents affirm nclt rectification in fraud cases (Para 42 , 43 , 44 , 45) |
| 12. appeal dismissed; nclt order upheld with costs (Para 46) |
JUDGMENT
(Hybrid Mode)
[Per: Ajai Das Mehrotra, Member (Technical)]
The present appeal has been filed by Appellant No. 1, IndusInd Bank Ltd. and Appellant No. 2, Link Intime India Pvt. Ltd., the Registrar and Transfer Agent of the shares of Appellant No. 1, against the impugned order dated 22.12.202
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