9911796707
TMI Blog2012 (12) TMI 587X X X X Extracts X X X X X X X X Extracts X X X X ..... g the name of respondent No. 1 in place of Lalit Kumar Goyal (hereinafter referred to as respondent No. 3) qua 100 shares and to issue duplicate shares to Respondent No. 1 or in the alternate to buy the shares from the open market and allot them to Respondent No. 1. 2. A petition under Section 111-A (3) had been filed by respondent No. 1 in the CLB. His contention was that he was the owner of 100 shares allotted to him by the appellant company. He had the physical possession of the said shares bearing share certificate No. 5998 and distinctive No. from 599701 to 599800 with folio No. 0005998. The petitioner was receiving dividends from time to time on the aforenoted shares. In the year 2006, the petitioner had changed his residence and shi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y should be informed and a copy of the FIR regarding the loss of shares or a Court injunction for "a stop transfer" be furnished to the company within a period of 15 days. 6. In response to this letter dated 27.02.2008, respondent No. 1 within less than 12 days on 11.03.2008 wrote to the STA requesting them for some time to get the desired documents. Along with this letter dated 11.03.2008, a copy of the complaint lodged in connection with the loss of the shares was attached and a request was made to respondent No. 2 to stop the transfer process till 30.04.2008 in order that the requisite documents could be furnished in this intervening period. 7. On 31.03.2008, the appellant company registered the transfer of the aforenoted shares in fav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... He has not chosen to address his submissions. 11. The present petition as noted supra has been filed under Section 111-A (3) of the Companies Act. Section 111(3) reads as under:- "An appeal under sub-section (2) shall be made within two months of the receipt of the notice of such refusal or where not notice had been sent by the company within four months from the date on which the instrument of transfer, or the intimation of transmission, as the case may be was delivered to the company." 12. An appeal against the order of the company refusing to register shares in favour of the appellant may be filed within two months of the receipt of the notice or within four months from the date of the instrument of transfer. 13. The uniform guideli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent No. 1 had first informed the company about the loss of his shares on 28.02.2006. On a letter being received by the company on 23.03.2006, respondent No. 1 had completed formalities, the complaint filed by him dated (11.05.2006) in the concerned Police Station along with an indemnity bond dated 31.10.2006 accompanied by a draft of Rs.1,000/- had been submitted to the appellant company on 13.11.2006. On 27.02.2008, the petitioner was informed by the appellant company that certain share transfer certificates along with signed transfer deeds had been received from respondent No. 3 for the transfer of the aforenoted 100 shares in his favour. 15. Respondent No. 1 responded immediately; on 11.03.2008, he wrote to the company enclosing the co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t and as per the SEBI guidelines/Instructions. This caution note enjoined upon the company to give notice to the registered holder (which it had done vide its communication dated 27.02.2008) which was duly replied to by respondent No. 1 on 11.03.2008 making a request to defer the transfer process only up to 30.04.2008 for reasons as explained in the said communication. Along with this letter, a second set of documents including NCR complaint dated 11.05.2006 and all other requisite documents were re-appended. This was in full compliance of the requirements of 6.22 of the SEBI guidelines/ Instructions. 18. The appellant company was duty bound not to transfer these shares once it was brought to its notice that the shares had been lost and a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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