TMI Blog1937 (4) TMI 11X X X X Extracts X X X X X X X X Extracts X X X X ..... red to two persons one called Mohammad Abdulla and the other Taj Din, fifty each. In his judgment the learned District Judge directs attention to two important points: ( a ) No instrument of transfer such as is required by the articles of the Company was executed in either case, ( b ) Neither Mohammad Abdulla nor Taj Din made an application to the Company to have the shares registered in his name. What the learned District Judge found did happen was this: The objector wanted to get rid of his shares and the shares were surrendered to the Bank in the expectation that they might later be alloted to Mohd. Abdulla and Taj Din: the Directors sanctioned an allotment but there was no evidence that Mohammad Abdulla or Taj Din wanted to have the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er 1930 a return of allotment was sent to the Registrar of Joint Stock Companies in which Mohammed Abdulla's name appeared as allottee (not as stated by the learned appellate Judge as transferee) of fifty shares. The learned appellate Judge found that it did not appear that fifty of Masud Ali's shares had been allotted by the Bank to another person and he held that in respect of these shares Masud Ali still remanied a share-holder. He held that the remaining fifty shares had been transferred to Mohammad Abdulla and that "in the peculiar circumstances of the case he ( i.e., Masud Ali) ceased to be a share-holder in respect of these shares on the 30th of May 1930 the date on which the transfer legally took place. Against this order both ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... instrument purporting to transfer shares from one person to another. The only document produced as an instrument of transfer of Masud Ali's shares is the Transfer form which has already been mentioned. It is clear, therefore that these shares have not been transferred to Mohammad Abdulla. This finding is sufficient to dispose of the case. But it appears also from the evidence that the case put forward by the objector is false. His own witness Dr. Sultan Mohammad, Secretary of the Company, swore that the shares were not, as alleged by the objector and recorded in the Minutes of the 22nd of May 1930, sold to Mohammad Abdulla and Taj Din: that though the shares were allotted to them, they did not pay anything for them and that attempts to ge ..... X X X X Extracts X X X X X X X X Extracts X X X X
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