Authority: National Company Law Tribunal (NCLT), Division Bench (Court– I), Chennai
Order Date: 16 July 2026
Case Overview
The petition CP(CA)/5(CHE)/2026 was filed by K V Alagesan (Petitioner) against K K P Fabrics Pvt Ltd (Respondent) and others under Section 59 of the Companies Act, 2013. The matter concerned a dispute over the transfer of shares. The Respondents (R1 to R4) had filed their reply, and a rejoinder was also on record. Respondent 5 (R5) was set ex-parte, and Respondent 6 (R6) had not filed a reply despite a previous submission about technical difficulties. During the hearing, the counsel for the Respondents referred to a Form-SH4 from 2016, claiming the Transferor had transferred the shares. The counsel for the Petitioner submitted that the Petitioner was disputing the signature on that Form-SH4 and that the Petitioner was not in possession of the original share certificate.
Final Outcome
The Tribunal concluded that, given the disputed signature on Form-SH4 and the lack of possession of the original share certificate, the matter could not be disposed of under its summary jurisdiction. The petition was closed, and the Petitioner was advised to approach the Civil Court to seek an appropriate remedy. The file was consigned to records.
Topics: NCLT Proceeding, Share Transfer Dispute