Back
SOUMEN SEN, AJOY KUMAR MUKHERJEE
Kiran Devi Poddar – Appellant
Versus
Sundaram Clayton Limited – Respondent
JUDGMENT
Soumen Sen, J. - The appellant is aggrieved by the judgment and decree dated 19th august, 2017 by which the learned 12th Bench of City Civil Court at Calcutta dismissed the suit being T.S. No. 1525 of 2016 (Kiran Devi Poddar vs. Sundaram Clayton Limited and Ors.). The plaintiff filed a suit for declaration and permanent injunction against the defendant.
Upon receiving the summons neither the defendants nor the substituted defendants of deceased defendant no.3 appeared before the trial court to contest the suit. accordingly, the suit proceeded ex parte against all the defendants.
The suit is based on unusual facts and surrounded by suspicious circumstances.
The plaintiff alleged to have purchased 4 share certificates of 50 shares each, that is, 200 shares of M/s. TVS Motor Limited formerly known as TVS Suzuki Limited from Gouri Dutt Parmanandka on 2nd May, 1990 on payment of Rs.4000/- and received share transfer deed and certificate. The face value of each share Rs.10/- Gouri calimed to have executed Form 7B, Share Transfer Form, on 2nd May, 1990 in the name of the plaintiff in presence of the witness namely, Mr. Ramesh Mehta. On 20th January, 2011 Sundaram Clayton Limited (in
The central legal point established in the judgment is the mandatory nature of the provisions under the Companies Act related to transfer and transmission of shares, and their influence on determinin....
The main legal point established in the judgment is that the dismissal of a suit requires clear and unequivocal admissions by the plaintiff, and the court must exercise judicial discretion after exam....
The court upheld the entitlement of the applicants to transfer the shares purchased in the open market, originally held by CRBCML, despite the proscriptions by the RBI and the court order.
Private company share transfer invalid without complying with articles' pre-emptive rights and board approval; discrepancies in transfer documents and lack of company records defeat rectification cla....
The court ruled that a plaintiff’s limited interest in property, dictated by the will, cannot be construed as absolute ownership; undue influence invalidates share transfers.
Company and registrar liable to rectify share register or compensate shareholder for negligently issuing duplicates to third party without notice or due verification, violating procedures; NCLT juris....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
