1. This statutory appeal under Section 10 GF of the Companies Act
1956 is against the judgment of the National Company Law Appellate
Tribunal, New Delhi in Company Appeal (AT) No. 208 of 2017 dated
03.11.2017.
2. The short facts necessary for the disposal of the present
appeal are that the respondents filed a Company Petition No.57 of
2015 before the Company Law Board Kolkata, Bench alleging
oppression and mismanagement by the appellants and sought various
reliefs including rectification of the register of members of the
company. They primarily contended that the appellants have
manipulated the resignation letters and also their shares were
never transferred. By its judgment dated 23.03.2017, the NCLT
Kolkata dismissed the petition on the ground of delay and latches
as the alleged transfer of shares is of the year 2007 and the
petition came to be filed in 2015. Even on merits, the Company Law
Tribunal returned a finding that the transfer of shares by the
respondents was valid.