TMI Blog2017 (3) TMI 1665X X X X Extracts X X X X X X X X Extracts X X X X ..... et and transferring the same to the aggrieved shareholder. This Bench is of the opinion that the petitioner is entitled to rectification of the Register of Shareholders maintained by the Respondent no.1 Company in Folio no. 031308 registering her as the rightful owner of 903 shares. The original of these certificates, in the physical form, are still in possession of the petitioner. The petitioner may take adequate steps to get the same demated after due confirmation of the rectification of the Register having been carried out - The petitioner would also be entitled to all dividends declared on the aforesaid shares which have not been passed on to her. She would also be entitled to any bonus shares or other benefits that may have accrued on these shares. Petition allowed. - Company Petition No. 8/59/15 - - - Dated:- 20-3-2017 - MS. INA MALHOTRA, J. For The Petitioner : S. M. Sundaram, Advocate For The Respondent : Pratab Venugopal, Purushottam K. Jha, Sahil Khanna, Joel and Anoop Dawar, Advocates ORDER The present petition has been filed u/s. 59 of the Companies Act 2013 praying for rectification of the Register of Members of Respondent no.1 Company and r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed and filed a police complaint to investigate into the matter. It also emerged that several other investors had also been duped in a similar manner, pointing to a modus operandi by the insider employees of the company and/or their agents, Respondent no.2. Despite the petitioner running from pillar to post, as her grievance remained un-addressed, she has petitioned this Tribunal for appropriate relief. 4. In the reply filed by Respondent no.1, they deny any liability and squarely lay it at the door steps of their Share Transfer Agents, Respondent no.2, duly approved by Respondent no.3. Needless to say that Respondent no.2 has found it convenient not to appear before this forum. Before this Bench, respondent no.1 has denied allegations of fraud, forgery and manipulation of the documents and has submitted that as the facts of the case are disputed, complex and complicated, it would be beyond the summary jurisdiction of this Tribunal to adjudicate in respect of the same. It is further submitted that being a listed company in terms of SEBI guidelines, they were under an obligation to appoint a common agency (Registrar-cum-Share Transfer Agents), which in this case is Respondent no.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unscrupulous person(s) have allegedly impersonated your identity and misrepresented documents before MCS in order to obtain duplicate Share Certificates and subsequently transferred them to third parties. EML is already enquiring from MCS further details in your case and would like to assure you that all documents and information available with MCS would be shared with you. For your reference, the copies of the documents including the request letter dated 20th July 2012 for the issuance of the duplicate Share Certificates, the indemnity bond, affidavit, copy of FIR, attested Voter ID Card, address proof and the signature verification letter issued by Bank are being provided to you for your reference and record. This unfortunate instance therefore requires the co-operation action by both the parties (i.e. yourself and EML) in tandem and we would like to assure you of our full cooperation to you. We will proceed to file a complaint with the police and request them to investigate the matter. 7. Correspondence on record includes a letter dated 12.07.2014 sent by the R1 Company to the Police, reiterating its earlier complaints against one Mr. Umesh Kajmar and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pals are liable for the acts of their agents. 12. With respect to Respondent no.8, Mr. Vikas Tara Singh, the present registered holder, steps for service of notice were duly taken and he has chosen not to be present. It is does not need any specific observation, but the shares transferred to him, being stolen property cannot vests in him any title, muchless a perfect one. 13. Given the facts of this case, this Bench is of the opinion that the petitioner is entitled to rectification of the Register of Shareholders maintained by the Respondent no.1 Company in Folio no. 031308 registering her as the rightful owner of 903 shares, details of which are provided hereunder: Folio No. Certificate No. Distinctive Numbers Number of Equity Shares FROM TO 031308 058178 10591370 10591469 100 031308 058179 10591470 10591569 100 031308 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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