R.S.BACHAWAT, J.

(1) ON 29/11/1947, the Indian Chemical Products, Ltd., a limited company, was incorporated having its registered offices in Baripada, Mayurbhanj and in the town of Calcutta. Its authorised capital is Rs. 25 lakhs divided into 25,000.00 shares of Rs. 100.00 each. The company has seven share-holders. The Maharaja of Mayurbhanj subscribed and paid for 7,500 shares. The remaining six shareholders hold 150 shares only. All the shareholders are signatories to the memorandum of association of the company. The State of orissa claims that by reason of the constitutional changes since the declaration of independence, all the shares held by the Maharaja of Mayurbhanj have now vested in it by operation of law. The State also based its claim to the shares on a formal instrument of transfer executed by the Maharaja. On 16/03/1950, the government of orissa lodged the share scrip and the transfer deed with the company, and requested it to make the necessary changes in the share register. The government as also the Maharaja, through his agent, the Imperial Bank of India, repeatedly requested the company to register the secretary to the government of orissa,, Finance Departme