Ravikumar Duraisamy, Member - (1.) The present Petition was initially filed before Hon'ble Company Law Board, Chennai Bench, Chennai (CLB). Since the National Company Law Tribunal, Hyderabad Bench (NCLT) has been constituted for the cases pertaining to states of Andhra Pradesh & Telangana, the case is transferred to NCLT. Hence, we have taken it on records of NCLT and deciding the case.
(2.) The present Petition has been filed Under Section 111A of the Companies Act, 1956 by seeking a direction to grant interim injunction restraining the respondent No. 1 to 13 and their men, agents, representatives, attorneys, successors, assignees and any person or person claiming under them whatsoever manner to further transfer or alienate or dematerialize the bonus shares pending disposal of the petition and suspend the voting rights of Respondents 3 to 13 with respect to the bonus shares.
(3.) The case was initially listed before the Hon'ble Company Law Board (CLB) on 20.04.2012 wherein R. 3 to R. 13 were absent. After hearing both the sides the Bench recorded that R. 3 to R. 13 shall maintain the status quo with regard to impugned bonus shares until further orders. Notice was served on R. 3 to R. 13. R. 1, R. 2 and R. 9 filed their counters. The petitioner also sought permission of the Bench to implead NSDL and CDSL as party to the main petition. The same was allowed by the Bench on 03.12.2012. The Petitioner filed an application being CA No. 193/2012. Upon the service of the Application on the proposed Respondents, they filed counter to the application. The Bench was of the view that the proposed respondents are necessary parties at least they can provide the information with regard to the shares held in dematerialized form. In view of the reasons, the application was allowed, directing the petitioner to implead the proposed respondents as respondents 14 & 15 to the main petition and amend the cause title of the petition forthwith. After amendment the petitioner is hereby directed to serve copy of the amended petition to the Respondents No. 14 & 15. After receipt of the amended petition the said respondents may file their counter to the amended petition within a period the three weeks and serve copies on the other side. Later, on 15.10.2014 the Bench allowed impleadment application by impleading R. 14 and R. 15 as Respondents. CA No. 1/2005 filed by the petitioner seeking condonation of delay of 216 days in filing amended petition and the delay was condoned by the Bench on 09.09.2015. Subsequent to the transfer of the case from CLB, Chennai Bench to NCLT, Hyderabad Bench, the case was listed on 02.08.2016. Again none appeared for the Petitioner as well as the other respondents except R. 1. When the matter was posted on 19.08.2016, the counsel for the petitioner and R1, R2 were present. None appeared for the remaining Respondents and notice was ordered for the remaining respondents. The Registry, NCLT issued notice to the remaining parties dated 06.09.2016. R. 10 Submitted her response to the Registry of NCLT vide letter dtd. 15.09.2016 and the same was received on 19.09.2016. The notice issued by the Registry by speed post to Subash Joshi was returned as undelivered with remarks as "Expired". R. 9 submitted a letter dated 06.10.2016 which is received by the Registry, NCLT on 14.10.2016. In his letter he has stated that "I, hereby, surrender the 2000 bonus shares consideration dt. 05.10.2016 and Dividend Transfer Bank statement dt. 05.10.2016 and an Affidavit for surrender of shares and dividend amount. Request NCLT Officer to settle the case amicably and remove the name from the petition list." When the matter was heard on 30.09.2016, counsel for the petitioner, R. 1, R. 2, R. 3 and R. 9 were present. The parties were directed to submit documents, judgements, mode of purchase of shares etc., on or before 17.10.2016. Counsel for R. 1 and R. 2 submitted their written submission on 19.10.2016. R. 3 vide letter dated 08.10.2012, 19.08.2013, 25.02.2015 and 28.09.2016 submitted her response to the present C.P. The petitioner has submitted his written arguments on 07.10.2016 and the same was received by the Registry on 17.10.2016.;