TMI Blog2014 (7) TMI 182X X X X Extracts X X X X X X X X Extracts X X X X ..... ld thata:- The Petitioner has stated that the Respondent No. 2 despite its letter dated 23/08/2011 did not act Upon the documents submitted to the Company by the Respondent Nos. 3 and 4 expressing their no objection for transfer of the shares-in-question in favour of the Petitioner, and therefore he was constrained to file the petition. In view of the above, in my opinion, the petition cannot be said as time barred. The said objection is therefore found untenable and is hereby rejected- Decided in favour of Petitioner. - C. P. No. 48 of 2011 - - - Dated:- 10-2-2014 - Ashok Kumar Tripathi, J. For the Respondent : Ajit Singh Tawar. JUDGMENT:- 1. The above captioned Company Petition has been filed by the Petitioner invoking th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for transfer under Section 108 (1) of Companies Act, 1956 which allows transfer without transfer deed. 2.4 That the Petitioner did not receive any reply from M/s. MCS Ltd. Thereafter, the Petitioner wrote letter No, 1961 dated 10/01/2008, through his firm Share Care to the registered holders requesting them to execute fresh transfer deed as well provide them copies of their respective PAN cards to enable the Petitioner to get the subject shares transferred in his name. The Petitioner received these documents from the registered holders and lodged the subject share certificate, transfer deed and self attested copies of PAN cards for transfer in his favour with M/s. Karvy Computershare Pvt. Ltd. registrar of the respondent under the cover ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 039/2008 dated 11/04/2008. The grounds of rejection were In-genuine and dearly indicative of the mala fide intentions of registrar. 2.7 That the Petitioner wrote to the Registrar vide letter dated 03/06/2008 giving them point by point reply along with new enclosures such as copy of telephone bill of registered holder as well as new transfer deed to enable the registrar to transfer 500 shares of Rs, 10/- face value, the copy of this letter was sent to the Respondent Company's Chairperson, director and company secretary. The registrar replied vide their letter dated 17/6/2008 which was very vague and ambiguous. The Petitioner complained to the Shareholders' Grievances Committee of the Respondent regarding biased and prejudiced stan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pon the documents submitted to the Company by the Respondent Nos. 3 and 4 expressing their no objection for transfer of the shares-in-question in favour of the Petitioner, and therefore he was constrained to file the petition. In view of the above, in my opinion, the petition cannot be said as time barred. The said objection is therefore found untenable and is hereby rejected, Further, the Respondents have failed to show as to how the CLB do not enjoy jurisdiction with respect of transfer and shares and rectification of Register of Members, This objection is also baseless, and rejected accordingly. 5. It is to be noted that the Respondent Nos. 1 and 2 in their submissions have alleged the only ground for refusal of transfer of shares in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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