Authority: National Company Law Tribunal, Division Bench (Court-I) Chennai
Order Date: 18 June 2026
Case Overview
The matter involves a petition (CP(CA)/803/CHE/2020) filed by T Sivakumar against AMP Ultravolt Engineering Pvt Ltd & Anr. The petitioner had made an investment in the company through his father, who was allotted 40% shareholding. Following the father's death, these shares were never transferred to the petitioner. The petitioner alleged exclusion from company affairs, stating he was not invited to any EGMs or AGMs and was not provided details of company operations. He expressed desire to exit the company and sought refund of his investment.
The respondent company acknowledged being operational with "two three orders" currently being executed. They proposed a three-year timeline for refunding the petitioner's investment if he desired exit. Alternatively, the company offered to transfer the shares to the petitioner's name within one month and share company affairs if the petitioner showed interest in participating.
An application (IA(CA)/195/(CHE)/2025) sought to implead Shri Vickypillai Nagarajan as third respondent, noting he was inducted as Director after the petitioner's father's death but was not originally arrayed as respondent in the main petition.
Final Outcome
The Tribunal directed R1 Company (AMP Ultravolt Engineering Pvt Ltd) to transfer the shares allotted in the name of the deceased father to the petitioner/legal heirs. The application for impleadment was allowed, and Vickypillai Nagarajan was added as Respondent No. 3 in the company petition. The newly impleaded respondent adopted the reply filed by other respondents. The matter was listed for reporting settlement or final arguments on 14 August 2026.
Topics: Share Transfer, Corporate Governance