Receive Daily Updates by Email (Free Subscription)

Rectification of Register of Members

Section 59 of the Companies Act 2013 prescribes:

- If the name of any person is, without sufficient cause,
  • entered in the register of members; or
  • omitted in the register of members; or
  • if a default is made, or unnecessary delay takes place in entering in the register, the fact of any person having become or ceased to be a member,
- the person aggrieved, or any member of the company, or the company may appeal to the Tribunal, or to a competent court outside India, in respect of foreign members or debenture holders residing outside India,

- for rectification of the register.

Order by Tribunal

The Tribunal may, after hearing the parties to the appeal by order, either dismiss the appeal or direct that the transfer or transmission shall be registered by the company within 10 days of the receipt of the order or direct rectification of the records of the depository or the register and in the latter case, direct the company to pay damages, if any, sustained by the party aggrieved.

Right of shareholder
The provisions of this section shall not restrict the right of a holder of securities,to transfer such securities and any person acquiring such securities shall be entitled to voting rights unless the voting rights have been suspended by an order of the Tribunal.

Submit/See Comments With: or

No comments:

Post a Comment