9911796707
TMI Blog1995 (9) TMI 321X X X X Extracts X X X X X X X X Extracts X X X X ..... submitted by the applicant that he is the owner of four fully paid up preference shares of the face value of Rs. 2,000 each of Eastern Linkers Pvt. Limited (in liquidation) bearing Nos. 29 to 32. 2. According to the applicant, the shares were allotted to him on 1-11-1951, and share scrips are in his possession and he has filed photo copies of the same. He has further mentioned that he has not transferred the shares to any one and these shares continue to be his property. It is submitted in the application that in May 1960, two individual shareholders, namely, D.N. Sodhi and S.L. Bali, developed personal differences and their personal differences led to the filing of winding up petition No. 39 of 1973 by D.N. Sodhi. The Court after hea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... applicants have submitted that the true position is that the applicant, Kulveer Chandhoke was aware of all these proceedings and he, in fact, was a party in Company Petition No. 39 of 1973. 3. This Court in its order dated 2-2-1978 in C.P. No. 39 of 1973 directed counsel for the petitioner to file a list and Form No. 10 giving a list of persons supporting or opposing the winding up petition. This order was passed after the citation was published in the newspapers. 4. On 27-1-1978, Kulveer Chandhoke wrote to counsel for the petitioner in C.P. No. 39 of 1973 that he intended to oppose the winding up petition and he was the holder of the four cumulative preferential shares of the company. 5. Form No. 10 was filed in the court on 13 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 39 of 1973 dated 30-4-1975, mentioned that Khanna, J. observed in his judgment that the register cannot be relied upon. 6. The Division Bench in its order dated 18-3-1977, has held that : "As against the aforesaid annual returns, the register of members, exhibit R.W.-1/1 was produced by Shri Bali and it was contended by his counsel on his behalf that the said register shows that the two sons and daughter of Shri D.N. Sodhi were not members of the company, but on the other hand shows that the shares standing in the name of Shri Desraj and Shri Mulk Raj were transferred to the name of Shri Bali. The register has a heading on the front page which refers to the register as the one required under the Indian Companies Act of 1956. The reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hares which were ultimately transferred to Savita Bali, respondent No. 5 in C.P. No. 42 of 1985. The respondent had mentioned that the shares were originally allotted to Kulveer Chandhoke on 1-11-1959, when he was admittedly a minor. The shares were later on transferred to respondent No. 5 herein and were duly registered in his name, as would be clear from the annual return for the years 1961-66. The possession of shares with Kulveer Chandhoke is of no consequence inasmuch as the said scrips were left in the registered office of Eastern Likners (P.) Ltd., when respondent No. 2 was ousted from office. As a matter of fact, Kulveer Chandhoke is guilty of forgery and is liable to be proceeded against for contempt of this Court, as he tried to o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d cannot be reopened. Mr. Parekh also submitted that the petition is barred by the principles of res judicata . 12. Mr. Parekh further submitted that, in this case, initially, the company petition was decided by Khanna, J., vide his order dated 23-5-1972. The company appeal against that order was dismissed by the Division Bench. A special leave petition to the Supreme Court against the judgment of the Division Bench was also dismissed. Thereafter, Ranganathan, J. allowed the winding up petition on 19-12-1979. The company appeal against the said judgment was dismissed by a reasoned order in Eastern Linkers (P.) Ltd. v. Dina Nath Sodhi [1982] 2 Comp. LJ 669 (Delhi). The review applications were also dismissed. A special leave petit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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