9911796707
TMI Blog2018 (5) TMI 1995X X X X Extracts X X X X X X X X Extracts X X X X ..... in favour of the second respondent or any party is illegal and void. (b) To direct the first respondent to enter the name of the petitioner by rectifying the Register of members by deleting the name of the second respondent or any person in respect of the shares mentioned in schedule 1. (c) To direct the first respondent to pay the dividend to the petitioner in respect of the shares mentioned in schedule 1 since 1998 to till date and (d) To award cost and damages. 2. The petitioner submits that she purchased 700 equity shares of RI company through R3 vide bill Nos.3119 dated 23.4.1998, 2308 dated 9.10.1997 and 5207 dated 7.5.1997, and sent the transfer deeds along with original share certificates to RI company for registering them i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le Il(d) of CPC with an observation that the proper forum for the petitioner to approach is Company Law Board under Section 11 IA of the Companies Act, 1956. 4. The petitioner further submits that the transfer deeds along with the original share certificates were lodged in time and RI company ought to have transferred the shares in her favour. It was further alleged that RI company fraudulently registered the impugned shares in the name of R2 by colluding with R2. The petitioner further contended that the transfer deeds filed by R2 with RI shows that the Registrar of companies released the transfer deeds on 6.5.98 whereas the pay-in date was 16.3.98 and transfer of shares was done illegally by misusing the transfer deed forms by the offici ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rther stated that it is imperative that the signatories to the transfer forms may be summoned for examination to ascertain the truth. (f) RI company received request from R2 on 8.6.98 for transfer of 1,450 shares duly purchased from 3 set of transferors under three separate folios accompanied with 29 separate but clubbed shares transfer deeds which were duly stamped and executed, accompanied with 29 original share certificates of 50 shares each, and since the same were found in order, RI company registered the transfer of those 1450 shares in the name of R2. RI company further submits that the signatures of the three transferors of the said 1,450 shares were confirmed by RI from its existing records before making the transfer and says tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cally stated that no share transfer forms along with original share certificates for 700 shares were lodged with the company. It was further stated that the petitioner has not produced any signed acknowledgement from the company reflecting lodgement of transfer deeds along with original share certificates with RI company. 8. Further, RI alleged that the Xerox copies of share transfer forms filed by the petitioner are highly suspicious documents which appears to be forged and fabricated, apart from that it says that there are glaring errors and mistakes in these documents. However, RI says that before transferring the shares to R2, RI had addressed the transferors to confirm that the Transfer documents are genuine and thereafter effected tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IA, the petition has to be filed within a period of 60 days of lodgement of transfer documents, at this point of time much water has flown under the bridge, hence this Tribunal could not come to the rescue of the Petitioner. The petition is not only barred by limitation but also suffers from delay and laches. Of course, the Petitioner may say that she had been diligently prosecuting the case in Civil Suit and after the dismissal of the said suit, before this Tribunal. The unsurmountable problem is that, in between the alleged lodgement of shares with RI and this date, the impugned shares were already transferred in R2's name in a manner known to law and subsequently due to dematerialization, chain of third parties interest were created ..... X X X X Extracts X X X X X X X X Extracts X X X X
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