The Civil Revision Petition is filed against the fair and decreetal order dated 10.01.2017 made in I.A.No.7540 of 2016 in O.S.No.1618 of 2016 on the file of the XII Assistant City Civil Court, Chennai.

2. The petitioner is the second defendant. The first respondent is the plaintiff. The second respondent is the first defendant in O.S.No.1618 of 2016 on the file of the XII Assistant City Civil Court, Chennai. The first respondent filed the suit for the following reliefs:

(i) Mandatory injunction directing the first defendant to rectify its Register of Members to substitute the name of the plaintiff in suit schedule shares in place of second defendant and issue fresh share certificates to the plaintiff;

(ii) for permanent injunction restraining the second defendant from claiming any right, title or interest in respect of suit schedule shares;

(iii) to direct the defendants to account for the dividends, benefits and payments received and appropriated by the second defendant in respect of suit schedule shares and to pay interest of 12% per annum on the amount so ascertained from the date of such benefit accruing to the second defendant till date of payment;

3. The petitioner filed I.A.No.7540 of 2017 under Order VII Rule 11 of C.P.C. for rejection of plaint. The first respondent filed counter affidavit denying the averments made in the affidavit. The learned Judge by order dated 10.01.2017 dismissed the application.

4. Against the order dated 10.01.2017 made in I.A.No.7540 of 2017, the present civil revision petition is filed by the petitioner.

5. The facts of the case is as follows:

(i) First respondent is the son of petitioner and Mrs. Sharmila Ramji. The petitioner is the great grand son of T.V. Sundaram Iyengar (TVS). From his childhood, the first respondent used to get gifts from time to time on account of birth days, festivals and other occasions from his maternal grand parents, his maternal great grand mother and other maternal family members. In March 2003, on occasion of his Upanayanam, the first respondent received larger amounts of cash gifts and the same was kept by his parents to be invested for his welfare;

(ii) The petitioner as a father and natural guardian of first respondent opened an account on behalf of the first respondent in UCO Bank, Mount road branch, Chennai, bearing Account No:SB 02710100014018. The petitioner used these funds to acquire shares and make investments in fixed deposits in first respondent name in the second respondent. The shares were purchased from various third parties including the second respondent in the name of first respondent represented by the petitioner. The first respondent had 20180 equity shares in the second respondent in his individual name and 1973 equity shares as second holder along with the petitioner. Bonus shares 1:1 were issued in the years 2008 and 2012;

(iii) Misunderstanding arose between the petitioner and his wife, mother of the first respondent and both have filed petitions for divorce and the petitions are pending in III Additional Family Court, Chennai. First respondent and his sister are residing with their mother. The petitioner did not provide sufficient funds for the maintenance of first respondent and his sister. The first respondent represented by his mother as guardian, as he was minor at that time, filed C.S.No.412 of 2008 in this Court against the petitioner for partition of joint family properties. In the interim application taken out by him, this Court granted an interim injunction restraining the petitioner from alienating the HUF properties held by him as kartha;

(iv) The first respondent intended to do higher education in a foreign country. When he acquired the details of his assets, he came to know that the petitioner fraudulently in collusion with the directors of second respondent got the shares of the first respondent transferred to his name in the register of second respondent. The first respondent after attaining majority did not rectify fraudule