Section 276 of the Companies Act, 2013
Section 276 of the Companies Act, 2013
Title: "Power to grant relief in case of transfer or transmission of shares or debentures"
📘 Summary:
Section 276 empowers the Tribunal (NCLT) to provide relief to members or others in case of transfer or transmission of shares or debentures when procedural difficulties or disputes arise.
🔍 Key Provisions:
✅ 1. Application for Relief:
If a member or any other person is prevented from transferring or transmitting shares or debentures due to:
Non-receipt of required documents,
Delay by the company or its officers,
Any other reason affecting the rights of the member or holder,
They can apply to the Tribunal for relief.
🏛️ 2. Tribunal’s Powers:
The Tribunal may order:
Transfer or transmission of shares/debentures to the applicant,
Payment of compensation for any loss or damage caused,
Any other order it deems fit to resolve the matter.
🧾 Purpose:
To protect the rights of shareholders or debenture holders and ensure they are not unfairly deprived of ownership or benefits due to procedural lapses or disputes.
RELATED Blog
0 comments