(1) If the name of any person is, without sufficient cause, entered in the register of members of a company, or after having been entered in the register, is, without sufficient cause, omitted therefrom, or if a default is made, or unnecessary delay takes place in entering in the register, the fact of any person having become or ceased to be a member, the person aggrieved, or any member of the company, or the company may apply in such form as may be prescribed, to the Tribunal, or to a competent court outside India, specified by the Central Government by notification, in respect of foreign members or debenture holders residing outside India, for rectification of the register.
(2) The Tribunal may, after hearing the parties to the application,—
- either dismiss the application or by order, direct that the transfer or transmission shall be registered or the rectification of the register shall be made within a period of ten days of the receipt of the order;
- direct the company to pay damages, if any, sustained by the party aggrieved.
(3) The provisions of this section shall not restrict the right of a holder of securities, to transfer such securities and any person acquiring such securities shall be entitled to voting rights unless the voting rights have been suspended by an order of the Tribunal.
(4) Where an order has been passed by the Tribunal under this section, the company shall file the order with the Registrar within thirty days of the receipt of the order.
(5) The Tribunal may, in any case under this section, make such interim order as it thinks fit.