REGISTRAR OF COMPANIES Vs. C PULLAIAH SETTY

JUDGEMENT

(1.) The complaint was filed for a direction to the opposite parties i. e. the Registration of Companies and the Secretary, Tungabadhra Industries Limited for payment of Rs.89.00 with interest thereon at the rate of 18% p. a. till the date of realisation and costs.

(2.) The complaint came to be filed in the following circumstances : The complainant is a share holder in Tungabadra Industries Limited. The company declared divident for the years 1972-73 and 1986 and the dividend to the complainant was due. As the complainant did not receive the dividend due to change o f address for over a period of three years, the Tungabadra Industries send the amount of dividents to the Registrar of Companies under Sec.205-A of the Companies Act. According to the complainant the amount of Rs.89/- is lying in deposit with the first Opp. Party. Whereas according to the counter a sum of Rs.59/- is lying with the first Opp. Party. It is not necessary for us to decide in this appeal the actual amount in deposit.

(3.) In the complaint it was merely stated that a sum of Rs.89/- towards dividend was due and it is lying with the first Opp. Party. No mention was made that the complainant at any time claimed the amount from the first Opp. Party by way of making an application in Form No. II in accordance with the Rule 6 of the Companies in paid dividend (transferred to General Revenue Account of Central Government) Rules, 1978.