Allotment money refund

This query is : Resolved

csprashant (Querist)
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06 July 2011 Our company has made an investment of Rs 2 Crore in a pub. Co.(X) having the paid up capital of Rs 15581500/- but this company has transferred this amount of Rs 2 crore to their group company(y) .This Y co. has shown allotment of shares for Rs 2 crores but we have not signed any application form fot this allotment . Further no notice of AGM has been send to us by this Co. from the last two years .
We want to recover this money from this company but we can not force them to buyback the shares.
Tell me what procedure we should adopt and also the section under which we can force them to refund this amount of Rs 2 Crores.

Authoriesd Share Capital of Y Ltd Rs 20 Crores devided into 2 crore share of Rs 10 each
Pad up Share Capital Rs 15,58,15000/-
pls give me immediate reply for the same.

Guest

Guest (Expert)

07 July 2011 Application to CLB for rectification of Register of Members. Because you are not member as per the definition of the "Member".

Also pray to CLB for refund of the Share Application Money.