NCLT Mumbai Bench dismissed a 2010 petition by Dilipkumar Shrivastava seeking rectification of Champion India Industries' member register.
Petitioner alleged fraudulent 1994 transfer of his 3552 shares to a family partnership firm without consideration or valid instrument.
Tribunal found prolonged delay, inconsistent claims, and insufficient evidence to prove fraud, citing a preponderance of probabilities.
Case involved contested facts about a 1982 resignation and 1994 share transfer, with parallel criminal proceedings ongoing.