MONI MOHAN MUKHERJEE Vs. JALPAIGURI CINEMA CO LTD

JUDGEMENT

(1.) THE petitioner Moni mohan Mukherjee has applied this court inter alia, under Section 155 of the Companies Act, 1956, for rectification of the Share Register by inserting therein his name in the place and instead of the previous registered owners of the shares purchased by the petitioner.

(2.) THE said shares were purchased by the petitioner between December 2, 1966 and December 26, 1966 and the same were lodged with the company between January 4, 1967 and January 12, 1967 for registration thereof. An application was duly made to the company for such registration. The company declined to register the said shares. On 25th March, 1967 the petitioner appealed against such refusal before the Company Law Board and proceeded under Section 111 of the companies Act, 1956. The appeals were allowed by the Company Law Board by its orders dated December 19, 1969 and December 22, 1969 whereby the company was directed to register the said shares in the name of the petitioner and to enter the same in the register of members. The Company filed a writ petition under Articles 226 and 227 of the Constitution of India against the said order of the Company law Board but the same was dismissed on May 13, 1970. The company thereafter preferred an appeal but the same was also dismissed by the order of the Division Bench on or about February 26, 1971. The the company thereupon asked for leave to appeal to the Supreme Court under art. 133 of the Constitution and applied for stay of execution but the same was rejected. Thereupon the company applied for special leave to appeal to the Supreme Court under art. 136 of the Constitution but the same also was dismissed by an Order dated October 26, 1971.

(3.) INSPITE of the aforesaid orders the company has failed and neglected and defaulted in rectifying the Share register in terms of the said orders and in spite of demands made by the petitioner requiring the company to comply therewith by various letters written from time to time.