1. Petitioner No. 1 is widow of Navin Kumar Jhunjhunwaia, who has filed this application for a direction to the respondents National Securities Depository Limited (hereinafter referred to as the N.S.D.) and the Stock Holding Corporation of India for transmission of ail the shares deposited in the name of her husband in her DEMAT Account bearing no. Client ID 13184662. Petitioners husband was having various shares and stocks deposited with the respondents under the DEMAT account. He died prematurely on 27.6.2005 leaving behind his wife, petitioner no. 1 and one minor son. The petitioner no. 2 is mother of Late Navin Kumar Jhunjhunwala and she has also joined as petitioner no. 2 in this writ application in order to show that other family members have no objection in case shares of Navin Kumar Jhunjhunwala is transmitted in the DEMAT account of petitioner no. 1.

2. In exercise of the powers conferred under Sec. 26 of the Depository Act, 1996 N.S.D. Limited has made bylaws which have been approved by the Exchange Board of India. These by-laws are called by-laws of NSD Limited. The Board of Directors of Executive Committee of N.S.D. has formulated business rule for the functioni