Ravikumar Duraisamy, Member - (1.) The Company Petition was initially filed before the Hon'ble Company Law Board (CLB), Chennai Bench, Chennai. Since the National Company Law Tribunal (NCLT), Hyderabad Bench, has been constituted for the cases pertaining to the states of Andhra Pradesh and Telangana, the case is transferred to the Hyderabad Bench of NCLT, and we have taken the case on records of NCLT, Hyderabad Bench and deciding the case.
(2.) The present Company Petition has been filed by Mr. Prashanth Kumar, under Sections 111A, 397, 398 Read with Sections 402 and 403 of the Companies Act, 1956, seeking following reliefs: a) to rectify the register deleting the name of the 4th Respondent as shareholder in respect of 40,000 shares and substitute the name of the Petitioner in her place; b) to declare annual returns for the year ending 2004-05 reflecting the alleged transfer of shares from Petitioner to 4th Respondent as null and void. c) to declare the purported annual return for the year ending 2005-2006 showing the Petitioner has ceased to be Director as null and void; d) to declare the Form 32 filed by the 2nd Respondent purporting to record appointment of 4th Respondent as Director as invalid and non-est in law; e) to declare that no valid shareholders meetings and Board Meetings were convened or conducted by the Company since 2004; f) to appoint a Chartered Accountant to value the Company and surcharge the 2nd and 4th Respondent for losses caused, as ascertained by the Chartered Accountant and; g) To reconstitute the Board of Directors in such manner as the Hon'ble Bench may deem fit etc.
(3.) The brief facts of the case is that; the 1st Respondent Company was incorporated on 06.09.2002 vide CIN No. U05005AP2002 PTC39613 with Registration No. 39613.;