JUDGMENT - Mrs. SUJATA MANOHAR, J.:---Pradip Harkishondas Dalal was a member of the Stock Exchange, Bombay. He died in an Air Crash at Ahmedabad on 19th October, 1988. The 1st petitioner Sejal Dalal is the daughter in law of Pradip. The 3rd petitioner is the widow of Pradip. Petitioner No. 2 is the son of Pradip and petitioner No. 4 is the daughter of Pradip. 1st petitioner Sejal is the wife of the 2nd petitioner. On 6th December, 1988 petitioners Nos. 2 to 4 as the heirs and close relatives of Pradip nominated the 1st petitioner Sejal for being made a member of the Stock Exchange, Bombay. Accordingly on 15th December, 1988 the 1st petitioner applied for membership of the Stock Exchange, Bombay supported by this nomination. Her application was seconded by two members of the Stock Exchange as per requisite rules. On 2nd March, 1989 the Stock Exchange addressed a letter to petitioner No. 1 enquiring whether late Pradip Harkisondas Dalal had made any payment in respect of the outstanding liabilities of M/s. Harkisondas Laxmidas. The letter also sought details regarding the constitution of the firm of M/s. Harakshah which was a client of M/s. Harkisondas Laxmidas and whether dues were

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