LAWS(CAL)-1999-2-23

NUPUR MITRA Vs. BASUBANI PVT LTD

Decided On February 19, 1999
NUPUR MITRA Appellant
V/S
BASUBANI PVT.LTD Respondents

JUDGEMENT

(1.) This appeal has been preferred under section 10F of the Companies Act, 1956 (referred to as the Act) from an order dated 31st July, 1998 passed by the Company Law Board dismissing the application of the appellants under section 111 of the Act for rectification of the share register of Basubani Pvt. Ltd. (referred to as the Company).

(2.) The facts in the background of which the application under section 111 was made are as follows :-

(3.) The appellants are the daughters of one Satya Bhusan Bose. Satya Bhusan took a premises on lease in 1945. He built a cinema house on the premises by the name of Basushree Cinema. He took a loan from the Union Bank for this purpose. In 1947 Satya Bhusan and three of his brothers Shanti Bhusan, Kanti Bhusan and Phani Bhusan promoted a company by the name of Basubani Private Limited (referred to as the company) to manage the Cinema.