Section 59 of company act
Uday Kumar
(Querist) 01 September 2014
This query is : Resolved
Dear Sir,
A Pvt Ltd Company(Non Listed Company) were created in 1999 and 2 out of 10 Directors were resigned in 2002, Accordingly Share issued to 2 Director was transferred , Share Deed also got signed, Share amount paid in 2002 However, Share Certificate was not taken Back as they stated that same has been lost. We trusted and created a new share Certificate accordingly matter was closed. however after 9 years in 2013 they filed a case U/s 59 of Company Act before Company Law Board stating that They are Holder of Original Share Certificate and shares were transferred illegally in 2002. They even denied signing of any Share Deed.
Kindly assist and advise what should we do , we filed an application station that it is a time bared petition however CLB rejected the same and fixed for Argument after Written Statement + Rejoinder.
Kindly suggest what should we do , should we approach High Court of Delhi
With Regards
Uday Kumar
ROHIT SHARMA
(Expert) 01 September 2014
Dear Mr. Uday Kumar,
1. The resignation and the share transfer documents must be on record. This evidence needs to be exhibited. Let the proceedings proceed. Their application will not survive. Approach H.C. only after the adjudication is concluded.
Rajendra K Goyal
(Expert) 02 September 2014
Payment against shares, transfer deed, application for resign must be on record
Uday Kumar
(Querist) 02 September 2014
Dear Experts
Payment made by cheque and such proof ( Certificate issued by Bank)in original with is and exhibited in case file , Original Share Transfer certificate duly signed is with us and same has been exhibited, Complainant was a whole time Director(Employee) with Respondent which was hidden by the Complainant although Respondent submitted the Minutes and proof in this regards which was also exhibited. Form-32 in Lien of Resignation signed is also placed on record However There is no such separate Resignation Letter on Blank paper.
Kindly suggest
With Regards
Uday Kumar
M V Gupta
(Expert) 03 September 2014
U have a good case. Hope u had submitted Form 32 to ROC and obtained his ack. This would strengthen ur case. Engage an Advocate who is practicing on corporate side to argue ur case. A patient should not try to treat himself however much he is knowledgeable.
