Mohd Sharief Tariq, Member - (1.) Under consideration is Company Petition No. 14 of 2015 that has been filed under sections 108 and 111 of the Companies Act, 1956 and under sections 58 and 59 of Companies Act, 2013.
(2.) There is one petitioner and 4 respondents. Respondent No.l is M/s. Texline Fabrics India Private Ltd., which has been incorporated on 15.12.2004 under the Companies Act, 1956, with original name of M/s. Sundaram Fabrics Private Ltd with authorised capital of Rs.20 lakhs divided into 20000 equity shares of Rs.100/- each with main object of carrying on business of manufacture of wide range of fabrics and garments, yarns, etc., and having its registered office at No.27, Kalvettupalayam, Vengambur P.O, Erode Taluk and district, Tamilnadu.
(3.) The petitioner claims that she had purchased 500 shares each Rs.100/- in the 1st Respondent company viz. M/s. Texline Fabrics India Private Ltd., that was incorporated with the name of Sundaram Fabrics Private Ltd, through an allotment by the Board of Directors of the 1st Respondent company during the year 2005 by making payment of the sum of Rs.35,000/- during the month of January 2005 and thereafter balance of Rs. 15000/- was paid along with an additional sum of Rs. 1000/- towards postal charges for sending the certificates, other documents and notices, only through Registered Post with Acknowledgement Due. The petitioner continues to hold such shares in the 1st respondent company and never sold or transferred such shares to anyone at any point of time till date. The 1st Respondent and its Directors viz. 2nd and 3rd respondents had deliberately failed and willingly neglected to send the share certificates pertaining to the said shares allotted to the petitioner inspite of a number of requests made to them for years.;