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2023 Supreme(Online)(NCLT) 2585

NATIONAL COMPANY LAW TRIBUNAL
Dr. Venkata Ramakrishna Badarinath Nandula, Shri. Charan Singh, JJ
Sanghi Textiles Private Limited – Appellant
Versus
Sanghi Industries Pvt Ltd – Respondent


Advocates:
For the Appellants/Petitioners: Shri S. Chidambaram, PCS, Shri Yogesh Jagia
For the Respondents:Shri. D V Sitharam Murthy, Sr Advocate, Mr.T.Vijaya Kumar Reddy, Shri Sharad Sanghi, Shri Jagadish, Shri A.Kalyan Chakravarthy, Shri Venkata Vardhan, Shri Y.Suryanarayana

ORDER

1. This is an application filed under Section 59 of the Companies Act, 2013 , Read with Rule 11 of NCLT Rules, 2016 seeking for the following relief(s):

a. Declare that 58,70,000 of Petitioner Company shares transferred on18.12.2014 is in willful violation of Orders of Hon’ble Company Law Board, 23.10.2008 and 28.10.2009.

b. Direct rectification of Register of Members of Respondent No. 1 Company to the extent of 58,70,000 shares transferred to Respondent No. 2 on 18.12.2014, previously held Petitioner Company and restore the Petitioner’s name in the members register of R1 Company.

c. Declare that 1,33,62,800 shares of R7 to R17 transferred on18.12.2014 is in willful violation of Orders of Hon’ble Company Law Board, 23.10.2008 and 28.10.2009 and in addition illegal, null and void.

d. Direct rectification of Register of Members of Respondent No.1 Company to the extent of 1,33,62,800 shares transferred to Respondent No.2 on 18.12.2014, previous held by R7 to R17 and as detailed below and consequent rectification of shareholding of R2 in R1 Company by restoring name of R7 to R17 in members register of R1 Company:

Sl. No.Name of the RespondentImpugned Transfer of Shares
1SZF Pvt Ltd (R7)

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