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2020 (5) TMI 198 - AT - Companies LawRegistering the transfer of shares - issuance of original share certificates in the name of the Appellant - rectification in the Register of Members - HELD THAT:- The individual who has purchased the shares is trying hard from 1998 to get the shares transferred and what has been raised by the NCLT that the matter to be adjudicated by appropriate Civil Court. Now NCLT is appropriate court and NCLAT is the appropriate Appellate Authority. This reflect the attitude of the Respondent No.1 by not intimating to the Appellant at least to provide the document if they have not received instead of approaching various courts and putting mental agony and hardship to the Appellant. The Appellant has provided the details of certificate numbers, registered folio of all these shares and the company should have responded immediately in 1998 if they have not received those shares. No action was taken by the company for few years and suddenly went into litigation in various courts - All this suggest that the individual has sent the shares for transfer. The Respondent No.1 is directed to transfer the shares to Appellant after taking requisite declaration, indemnity bond and relevant papers and thereafter to issue shares with consequential benefit in accordance with law - appeal disposed off.
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