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NATIONAL COMPANY LAW TRIBUNAL
Shri Rajeev Bhardwaj, J, Shri Sanjay Puri, T
Yeduguri Sandinti Jagan Mohan Reddy – Appellant
Versus
Saraswati Power And Industries Private Limited – Respondent
| Table of Content |
|---|
| 1. the petitioners allege unauthorized equity share transfers. (Para 1 , 2 , 5) |
| 2. arguments revolve around the maintainability of the petition within the jurisdiction. (Para 3) |
| 3. court observations emphasize adherence to procedural requirements. (Para 4 , 6 , 9 , 10) |
| 4. ratio decidendi focuses on the invalidity of transfers due to non-compliance. (Para 7 , 14) |
ORDER
1. The present Joint Petition is filed by Mr. Yeduguri Sandinti Jagan Mohan Reddy (Petitioner No. 1), Yeduguri Sandinti Bharathi Reddy (Petitioner No. 2) and M/s. Classic Realty Private Limited (Petitioner No. 3) seeking the following reliefs:
1.1 To cancel, annul and nullify the transfer of 74,26,294 equity shares from Petitioner no. 1 to Respondent No. 3 on 06/07/2024 which has been transferred illegally without complying with the sine qua provisions of the Companies Act, 2013 relating to transfer of shares.
1.2 To cancel, annul and nullify the transfer of 40,50,000 equity shares from Petitioner no. 2 to Respondent No. 3 on 06/07/2024 which has been transferred illegally without complying with the sine qua provisions of the Companies Act, 2013 relating to transfer of shares.
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