{"id":212780,"date":"2002-08-06T00:00:00","date_gmt":"2002-08-05T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/comp-u-learn-tech-india-ltd-vs-b-r-s-chowdary-on-6-august-2002"},"modified":"2018-02-08T12:59:35","modified_gmt":"2018-02-08T07:29:35","slug":"comp-u-learn-tech-india-ltd-vs-b-r-s-chowdary-on-6-august-2002","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/comp-u-learn-tech-india-ltd-vs-b-r-s-chowdary-on-6-august-2002","title":{"rendered":"Comp-U-Learn Tech India Ltd. vs B.R.S. Chowdary on 6 August, 2002"},"content":{"rendered":"<div class=\"docsource_main\">Company Law Board<\/div>\n<div class=\"doc_title\">Comp-U-Learn Tech India Ltd. vs B.R.S. Chowdary on 6 August, 2002<\/div>\n<div class=\"doc_citations\">Equivalent citations: 2003 42 SCL 746 CLB<\/div>\n<div class=\"doc_bench\">Bench: S Balasubramanian, K Balu<\/div>\n<\/p>\n<pre><\/pre>\n<p>ORDER<\/p>\n<p>K.K. Balu, Member  <\/p>\n<p> 1. This is a petition filed under Section 111A of the Companies Act, 1956 (&#8220;the Act&#8221;) by M\/s. Comp-U-Learn Tech India Limited (&#8220;the Company&#8221;) seeking rectification of register of members of the Company by deleting the name of the respondents in respect of 17,500 shares appearing in Serial Nos. 256, 268 to 270 and impugned in the petition.\n<\/p>\n<p> 2. According to Shri P. Mohana Rao, Practicing Chartered Accountant and Authorised Representative of the Company, the respondents had applied for allotment of 17,500 equity shares under promoters&#8217; contribution in February\/March, 2000, submitted the share applications along with four cheques for an aggregate sum of Rs. 1,75,000 upon which the shares were allotted to the respondents by the Company on 25-3-2000 and entered the names of allottees in the register of members maintained under Section 150G of the Act. In the meanwhile, the cheques tendered by the respondents were dishonoured by non-payment of the cheque amount. The allotments are not supported by consideration, which have to be set aside. Hence, this petition.\n<\/p>\n<p> 3. When the petitions came up for hearing on 29-5-2002, none appeared for the respondents. However, the respondents were given an opportunity to file counter by 30-6-2002 and adjourned the hearing to 5-7-2002. On 5-7-2002 the respondents neither appeared nor filed counter. We heard the Authorised Representative of the petitioner ex parts and the respondents were set ex parte.\n<\/p>\n<p> 4. Taking into consideration the facts and circumstances of the case, submissions made on behalf of the Company and the opportunity afforded to the respondents, we hereby order the Company to rectify its register of members by deleting the names of the respondents in respect of 17,500 shares appearing in Serial Nos. 256, 268 to 270. A copy of this order may be sent to the respondents.\n<\/p>\n<p> 5. With the above directions, the petition stands disposed of without any order as to cost.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company Law Board Comp-U-Learn Tech India Ltd. vs B.R.S. Chowdary on 6 August, 2002 Equivalent citations: 2003 42 SCL 746 CLB Bench: S Balasubramanian, K Balu ORDER K.K. Balu, Member 1. This is a petition filed under Section 111A of the Companies Act, 1956 (&#8220;the Act&#8221;) by M\/s. Comp-U-Learn Tech India Limited (&#8220;the Company&#8221;) seeking [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-212780","post","type-post","status-publish","format-standard","hentry","category-judgements"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Comp-U-Learn Tech India Ltd. vs B.R.S. 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