70. Appeal under sections 58 and 59.-
(1) The appeals against the refusal for registration of transfer or transmission of securities under section 58 or for rectification of register of members under section 59 shall be made to the Tribunal by way of a petition in Form No. NCLT. 1 and shall be accompanied by such documents as are mentioned in Annexure B:
Provided that a copy of the appeal shall be served on the concerned company at its registered office immediately after filing of the petition with the Tribunal.
(2) The petitioner shall at least fourteen days before the date of hearing advertise the petition in accordance with rule 35.
(3) Where any objection of any person whose interest is likely to be affected by the proposed petition has been received by the petitioner, it shall serve a copy thereof to the Registrar on or before the date of hearing:
(4) The Tribunal may, while dealing with a petition under section 58 or 59, at its discretion, make-
(a) order or any interim order, including any orders as to injunction or stay, as it may deem fit and just;
(b) such orders as to costs as it thinks fit; and
(c) incidental or consequential orders regarding payment of dividend or the allotment of bonus or rights shares.
(5) On any petition under section 59, the Tribunal may-
(a) decide any question relating to the title of any person who is a party to the petition to have his name entered in, or omitted from, the register;
(b) generally decide any question which is necessary or expedient to decide in connection with the application for rectification.
(6) the decision of the Tribunal on any such petition shall be final. |