Cheka Aadipathirao vs Grandhi Seshamambadied

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2024 Supreme(AP) 821

V. R. K. KRUPA SAGAR
Cheka Aadipathirao – Appellant
Versus
Grandhi Seshamambadied – Respondent

Advocates:
Advocate Appeared:
For the Appellant : Raja Reddy Koneti.
For the Respondent: S. Satyanarayana Moorthy.

JUDGMENT :

V.R.K. KRUPA SAGAR, J.

1. Having lost his claims and contentions in two related suits, the appellant herein preferred these two appeals under section 96 of the CPC. The dispute revolves around the ownership over certain shares of the erstwhile Vysya Bank Limited (presently Kotak Mahindra Bank).

2. Sri Grandhi Varaprasadarao and Smt. Grandhi Seshamamba are husband and wife to each other. Sri Cheka Aadipathirao/appellant is closely related to them. Sri Grandhi Varaprasadarao purchased 1,250 shares of Vysya Bank. Several years thereafter, there was a rights issue that was announced by the bank. Sri Grandhi Varaprasadarao did not purchase the shares offered in the rights issue and he renounced his rights in favour of his wife/Smt. Grandhi Seshamamba. She claims that since her husband renounced the rights issue in her favour, she paid the sale consideration and purchased the plaint schedule mentioned 1250 shares. However, the claim of Sri Cheka Aadipathirao is that these rights issue shares were jointly purchased by Grandhi Seshamamba as the first applicant and himself as the second applicant. It is this claim of him that has given rise to the litigation in the courts.

3. Sri Che