U.C.Banerjee, J. - (1.)This application for stay is directed against the order of the Company Law Board dated October 27, 1995, wherein the Company Law Board directed the applicant before the Company Law Board to lodge the share certificates being the subject-matter of the proceedings along with the transfer instruments by November 20, 1995, and also directed the company to register the shares by November 30, 1995. The Company Law Board went on to direct that in the event of failure on the part of the company to effect registration in terms of the order, the Bench Officer, Eastern Region, Calcutta, is directed to visit the registered office of the company and to carry out suitable rectification in the register of members in that regard.
(2.)It is this order which is said to be not in accordance with law and the intervention of the High Court has been sought for under Section 10F of the Companies Act, 1956. Two principal issues have been raised before this court: the first being whether the Company Law Board has jurisdiction to direct the Bench Officer, Eastern Region, Calcutta, to visit the registered office of the applicant and to carry out suitable rectification in the register of members of the appellant-company. On the second count it has been contended that the Regional Bench of the Company Law Board cannot vary, alter or modify an earlier order of the Principal Bench of the Board and thereby sit in appeal over the order of the Principal Bench.
(3.)Turning attention on to the first count, viz., the jurisdiction under Section 10E of the Act of 1956 in regard to the direction to the Bench Officer, Eastern Region, to carry out suitable rectification of the register of members of the appellant-company, Mr. Chowdhury submitted that the Company Law Board cannot possibly direct its officer to execute an order in the manner as it had done. There is ex facie an error and mistake which is liable to be corrected by the High Court under Section 10F of the Act.
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