TMI Blog2020 (11) TMI 632X X X X Extracts X X X X X X X X Extracts X X X X ..... of California, US based Company on the same identity from the Respondents. It is also not in dispute that in the objections filed by the Appellant before the Tribunal, they have not raised the issue of mother as an inheritor. The Appellants (Respondent at Tribunal) have raised only the issue of production of probate and appropriate legal heir Certificate from Respondents at Tribunal. The issue of mother of Late Mr. Mondal, legal heir was not raised at Tribunal and hence a new ground. In any case the mother has already released her rights as far as back on 25.12.2015 by way of a letter. Even the Respondents are agreeable that let the shares be transmitted in the name of the all three (mother, wife and daughter). Identity is not denied, he c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by National Company law Tribunal, ( for short Tribunal ) Bangalore Bench in CP No. 196/BB/2019. 2. The Appellant is aggrieved by the impugned order of the Tribunal as the Tribunal has directed to the Appellant No.1, Company to give effect to the transmission of shares of late Mr. Santanu Mondal, the deceased Director and Shareholder of Appellant No.1 Company in favour of Respondents by rectifying its register of members and also to pay all consequential benefits on par with other shareholders with effect from 01.05.2017. 3. The Tribunal has passed the impugned order dated 26.02.2020 as the Appellant Company is exercising arbitrary powers conferred on the Company and its Directors as par Article of Association of this Company and it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Solution LLC. c. The Appellants are alleging that the respondents are putting pressure on the Appellants for transmission of 5000 equity shares erstwhile held by Mr. Mondal in the Appellant No.1 Company without complying with the Indian Laws Intestate Succession. The Appellants have also stated that as per the laws of Intestate Succession Application in the State of California, USA the surviving spouse and surviving issue exclude all other possible heir to the state of the deceased by as per Indian Law for Intestate Succession to the property of the Hindu, the mother of the deceased is also a class-I heir and thus inherits alongwith surviving spouse and issues of the deceased. As per the Appellant, the mother should have been given a s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... daughter of late Mr. Santanu Mondal who was holder of 50% shares of Appellant No.1 Company until his untimely demise on 18.04.2015. c. The Appellants have already got the shares purchased of Respondents transferred in the US Company based at California without any problem and accepting the fact that the Respondents were the legal heir of late Mr. Mondal and therefore, entitle to deal with his assets. After repeated request to the Appellant company and the Appellant Director since 20.01.2017, the shares were not transmitted then they have approached the Tribunal on 09.10.2019 and the Tribunal after hearing the parties have passed the impugned order granting relief to the Respondents. 4. The Respondents have also alleged that the Appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch other for a long time and knows each other families also. It is not in dispute that the Appellant No.2 has purchased the share of California, US based Company on the same identity from the Respondents. It is also not in dispute that in the objections filed by the Appellant before the Tribunal, they have not raised the issue of mother as an inheritor. The Appellants (Respondent at Tribunal) have raised only the issue of production of probate and appropriate legal heir Certificate from Respondents at Tribunal. The issue of mother of Late Mr. Mondal, legal heir was not raised at Tribunal and hence a new ground. In any case the mother has already released her rights as far as back on 25.12.2015 by way of a letter. Even the Respondents are ag ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
