Manorama Kumari, Member - (1.) The Company Application bearing No. 1231/2015 is filed by the Respondent No. 1 to 3 under Regulation 44 of the Company Law Board Regulations, 1991, challenging the maintainability of the Company petition being No. 151/2015 filed by the petitioner under sections 397, 398, 399, 402, 403 and 406 of the Companies Act, 1956 and under Sections 58 and 59 of the Companies Act, 2013.
(2.) On perusal of the Company petition filed by the petitioner, the following facts emerge: 1. The share certificates of the petitioners are stolen to which they filed an FIR on 28-01-2007 and asked the company to issue duplicate share certificates on 29-01-2007, but the same was not issued as alleged. 2. The illegal appointment of the Respondent No. 3 as Director and as also illegal allotment of share to Respondent(s) sometime in 2005 and 2006. 3. No notice of any meetings are issued to the petitioners since 2006 onward, etc.
(3.) The respondents, on receiving the Company petition, filed the instant application with prayer to dismiss the company petition on the point of limitation apart from the fact that the petition is filed on the self same cause of action in view of the fact that the petitioner allowed CP No. 686/2010(filed by the father of the petitioner No. 1) to get it abated even after filing the Company Application No. 116/2012 on the death of his father, Mr. MP Sinha to implead him as party. It is also pertinent to mention herein that the same set of advocates is also representing the petitioner in the present company petition.;