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2018 (1) TMI 922 - Tri - Companies LawTransfer of shares - due to mismatch of signatures the Bank had refused to transfer those shares and put “Stop mark” - whether this Petition is not maintainable against the State Bank of India being not incorporated as a Company under the provisions of the Companies Act? - Held that:- Respondent No. 5 has stated in the Affidavit in Reply that the shares were lost by him and the claimant Petitioner is not a bona fide person to lodge the claim in SBI records. A question has been raised that if the shares were lost then why a Police Complaint or FIR was not lodged?. Otherwise also, there is no corroborative evidence in support of the alleged claim of loss of shares. In the absence of any substantial proof we are not persuaded by this argument of the Respondent. This Petition is maintainable against the State Bank of India as per the in-depth discussion made hereinabove and that the question of Limitation in respect of the impugned transaction in question is concerned do not apply because the transaction has happened at the period when the Old Companies Act, 1956 was in operation. However, the Petition filed against State Bank of India revolves around the lodging of claim in respect of only 100 shares as per the specifications supra and not in respect of total 200 shares. As a result, our Order is confined to those 100 shares only, details as per supra, which were lodged for transfer in the prescribed record by the State Bank of India. The Petition is therefore, partly allowed
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