Final Order 1

Order Details: Other
Pdf Text: 12. 27.03.2025
SU 958/19
Exh.41
CORAM : HIS HONOUR JUDGE SHRI R. R. PATARE
(C.R.NO.1)
Plaintiff present.
Adv. Achala Hatode for plaintiff is present and filed
application Exh.41 TOR.
None present for defendant.
Section 56 and 58 of Companies Act deals with transfer of
share. Procedure for transfer of share is provided u/s 56 of
the Act. Section 58 impower the company to refuse to
register transfer. The transferee within 30 days of the refusal
is entitled to prefer appeal before the tribunal. Section 58 of
Act also provides a mechanism for appeal. The Ld. advocate
requested for directions to the tribunal to decide appeal of
present plaintiff within stipulated period. The plaintiff is
present in the Court. The request is made on behalf of
plaintiff through advocate for disposal of suit with direction
to the tribunal to entertain the appeal. It is settled that, the
Civil Court has got jurisdiction in respect of all civil matters
except those for which tribunal are constituted under special
statute. In the case on hand mechanism is provided u/s 58
of Companies Act for filing appeal after refusal to register
transfers. In the above circumstances, it is just and necessary
to grant liberty to the plaintiff to approach tribunal for the
reliefs sought in the present suit. The tribunal will consider
the time consumed for the decision of present suit and will
decide the appeal within stipulated period. At this stage,
advocate for plaintiff seek permission for withdrawal of suit
with liberty to file appeal before the tribunal. Permission
granted for withdrawal of suit with liberty to file appeal
before the tribunal. Suit stands withdrawn with liberty to
file appeal with no order as to costs. Court fees be return as
per rules.
Judge
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