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2018 (7) TMI 1965 - Tri - Companies LawTransfer of shares - validity concerning transfer of shares belonging to petitioner No. 1 to his mother-respondent No. 2 Mrs. Smiti Golyan - Whether 466600 equity shares of ₹ 10/- each held by Yash Golyan have been illegally transferred at the instance of Respondent No. 3 & Others to Mrs. Smiti Golyan-respondent No. 2? HELD THAT:- When the facts of the present case are examined, it becomes evident that no transfer deed was presented to the registrar. Respondent has miserably failed to show the existence of any transfer deed by adducing in any evidence. Therefore, the mandatory provisions of Section 108 of the Act have been followed. Photocopies of 19 certificates (duplicate) have been produced by the respondent. It appears that the original were not produced before the Registrar of Companies. The backside of the certificate showing transfer endorsement in favour of respondent No. 2 on 14.02.2014 has not been endorsed by the Registrar of Company. It is further doubtful that after the silver jubilee marriage anniversary was celebrated at Kou Samui, Thailand then how on 14.02.2014, these shares certificates duly signed by Mrs. Smiti Golyan were available in Delhi with respondent No. 1 company. No transfer of shares belonging to petitioner No. 1 has ever taken place in accordance with the provisions of Section 108 (1) (a) of Companies Act. It has also been established that so-called gift deed and the writings prepared on 23.01.2014 with a manipulated document cannot be regarded as an expression of free Will to gift 466600 shares to respondent No. 1 company reflected through 19 share certificates and the same is vitiated in the eyes of law. Petition allowed.
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