In Brief
A shareholder inherited 20 company shares through his mother's will but waited 23 years after obtaining probate to request registration. The company refused registration in 2013. The shareholder filed an appeal 249 days late to the Company Law Board (later replaced by the National Company Law Tribunal). The Court held that delay cannot be condoned because the Company Law Board lacks statutory power to extend filing deadlines. Only the Limitation Act principles apply to courts, not quasi-judicial bodies, unless expressly authorized by law. The shareholder's remedy had already expired under previous law before new legislation took effect.
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