JUDGMENT :- On 31-12-1947, the petitioner and one Shantaram then being wife and husband floated the first respondent company as a private limited company. The petitioner was registered as a shareholder in respect of 251 ordinary shares of the 1st respondent company being the subject matter of this petition. The petitioner and the said Shantaram both continued to act as and were directors of the 1st respondent company on 1-7-1955.

2. From the deed of transfer dated 28-6-1955 a copy whereof is annexed as Ex. 2 to the affidavit in reply made on behalf of the 1st respondent company, it appears that the petitioner had signed the deed of transfer in respect of these 251 ordinary shares of the company. In the register of shares of the 1st respondent company as on 1-7-1955 these shares were transferred and registered in the name of the 2nd respondent. From the minutes of the meeting of the directors held on 1-7-1955 it appears that the petitioner and the said Shantaram were both present at the said meeting and the application for transfer of the shares from the name of the petitioner to the second respondent was resolved to be accepted and the shares were resolved to be transferred