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2019 (12) TMI 1466 - HC - Indian LawsSeeking appropriate directions to the National Stock Exchange of India Limited (NSEIL) for release of 1,00,000 shares of Reliance Industries Limited including all corporate benefits thereon on account of Fixed Deposit standing with NSEIL - HELD THAT:- Clearly, given the manner in which fraudulent acts are undertaken under deceit and camouflage, if done with the affairs of a company/trust etc., the standard of proof required to prove such fraudulent conduct would necessarily be less stringent - it is manifest that Rommel has failed to place on record material facts without any plausible explanation. Rommel has failed to show that pursuant to sale of shares of Reliance Industries Limited which belonged to CRB Trustee Limited A/c CRB Mutual Fund the consideration was paid to CRB Trustee Limited. - Rommel has also failed to give details, namely, folio no./share Nos. of the shares of Reliance Industries Limited allegedly belonging to CRB Capital Markets Limited that were allegedly pledged to Rommel as claimed by Rommel. Hence, the defence sought to be given by Rommel about alleged execution of agreements dated 22.11.1995 and 24.4.1996 with CRB Capital Markets Limited cannot be accepted and appears to be make belief. NSEIL is directed to transfer 1,02,000 shares of Reliance Industries Limited with accumulated benefits including dividend, bonus shares etc. in favour of the applicant Committee formed by the court - Application allowed.
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