C.A. No. and 586 of 2013 and C.P. No. 450 of 2011. Case: Kishori Lal Agarwal and Ors. Vs Alliance Engineers P. Ltd. and Ors.. Company Law Board

Case NumberC.A. No. and 586 of 2013 and C.P. No. 450 of 2011
CounselFor Appellant: Sanjay Kumar Gupta and Deepak Kumar Khaitan, Practising Company Secretary and For Respondents: Kamalendu Ghose and Raja Ghosh
JudgesA. Bandopadhyay, Member
IssueCompanies Act, 1956 - Sections 111, 186, 235, 397, 398, 399, 406, 407
Judgement DateJanuary 27, 2014
CourtCompany Law Board

Order:

A. Bandopadhyay, Member, (Kolkata Bench)

  1. In this order, I am considering C.A. No. 586 of 2013, in connection with C. P. No. 450 of 2011 which already stands disposed of vide order dated August 12, 2013 (since reported in-- Kishori Lal Agarwal v: Alliance Engineers P. Ltd. (No. 1) [2014] 184 Comp Cas 17 (CLB)). The main averments made in the application are as under:

    (i) Certain original documents, contained in sealed envelopes evidencing deposit of all original share certificates of the petitioners and all the share transfer papers with respect to the petitioners, duly verified by an affidavit dated February 24, 2012, were handed over to the Company Law Board, Kolkata Bench, vide letter dated February 24, 2012, for necessary verification by the Bench.

    (ii) The main petition has been filed under sections 111, 186, 235, 397, 398, 399, 406 and 407 of the Companies Act, 1956 ("the Act") and the hon'ble Bench had rightfully accepted the instant petition under all the aforesaid sections and accordingly, passed an interim order dated June 2, 2011 and decided to proceed with the petition.

    (iii) While passing the final order dated August 12, 2013, the hon'ble Bench accidentally slipped or omitted to take note that the petition has been filed under section 111 of the Act and hence, the observation regarding non-compliance of section 111 of the Act has been recorded as indicated in paragraph 7 of the application.

    (iv) The hon'ble Bench has also accidentally slipped or omitted to take note of the original share certificates and share transfer papers handed over to the Bench duly verified by an affidavit dated February 24, 2012 and omitted to pass directions for returning the aforesaid documents.

    (v) Reference has been invited to regulation 44 of the Company Law Board Regulations, 1991, indicating inherent power of the Company Law Board to pass such orders as may be necessary for the ends of justice or to prevent abuse of the process of the Bench.

    (vi) Reference has also been invited to regulation 45 of the Company Law Board Regulations, 1991, by virtue of which the Bench after receiving an application from any party can rectify an error in the order arising because of accidental slip or omission therein. The extracts of regulation 45 are reproduced as under:

    Any clerical or arithmetical mistakes in any order of the Bench or error therein arising from any accidental slip or omission may, at any time, be corrected by the Bench either on its...

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