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2017 (8) TMI 1472 - AT - Companies LawTitle over the shares certificate between the appellant and the 5th Respondent - Duplicate shares issue - order to release unclaimed dividend on those shares - Held that:- A suit is pending between the parties with regard to same shares certificate since 2016. In such a situation, there being a doubt about the averment made by appellant that the shares were lost or misplaced the Tribunal rightly refused to exercise its power. We find no reason to entertain the same. The prayer made in this appeal is accordingly rejected. If suit is decreed in favour of appellant or the other party, holder/owner of the certificates may move before the company for issuance of shares certificate/duplicate shares in view of such fresh cause of action. In such case parties may raise all the contention and the Tribunal may pass appropriate order in accordance with law, uninfluenced by any observations made in the impugned order or order of this Appellate Tribunal. It is also made clear that this order will not come is the way of SEBI in the matter of investigation, if it has initiated. Appeal dismissed.
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