⚖️ Legal Learning I Shri Ganpati Jurists
📌 Case Law Insight
Mohan Ram Prasad Devineni v.
M/s. Biochemical & Synthetic Products Pvt. Ltd.
NCLAT, Chennai
🧾 Key Legal Learnings
🔹 Section 59 – Companies Act, 2013
✔️ Applicable only for rectification of Register of Members
❌ Cannot be used for issuance of share certificates
❌ Invalid or unsigned share certificate = no rectification relief
🔹 Issuance of Share Certificate
📄 Creation of rights ≠ Correction of records
⚠️ Absence of a valid share certificate bars Section 59 remedy
🔹 Section 430 – Civil Court Jurisdiction
🚫 Bar does not apply where relief is outside Companies Act
✅ Civil Courts can decide disputes on issuance of share certificates
🔹 Sweat Equity Shares
📜 Mandatory compliance with Share Capital & Debentures Rules
❌ Non-compliance = share certificate invalid in law
⚖️ Legal Principle
Rectification cannot substitute issuance.
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