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2022 Supreme(Mad) 270

IN THE HIGH COURT OF JUDICATURE AT MADRAS
Abdul Quddhose, J.
Gomathy Ammal – Petitioner
Versus
Senthilvel – Respondent
O.P. No. 920 of 2019
Decided On : 01-02-2022

Headnote:

Companies Act, 2013 - Section 124 (6) - Education and Protection Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 - Seeking for succession certificate - This petition has been filed seeking for succession certificate - Petitioner is the wife of deceased who died on leaving behind securities more fully described in schedule to petition filed in support of O.P - Since company has insisted for a succession certificate in view of dispute raised by respondent petitioner has approached this Court seeking for succession certificate - Respondent has been duly served in O.P. and he remains unrepresented in this petition - Petitioner is wife of the deceased and she is his only legal heir as they do not have any issues out of their wedlock – Held, An affidavit has also been filed by Cements Limited before this Court stating that subject shares mentioned in schedule to petition remained unclaimed and therefore shares were transferred to Investor Education and Protection Fund (IEPF) of Government of India in accordance with Section 124 (6) of Companies Act, 2013 and Investor Education and Protection Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 - At same time they have stated that legal heirs of the Deceased are entitled to claim shares from IEPF subject to Order of this Court - Cements Limited in their affidavit have also stated that at the time of transferring of shares to IEPF Original Share Certificate has to be cancelled dematerialized and transferred in electronic form which has been duly done - Petition is allowed.

JUDGMENT :

1. This petition has been filed seeking for succession certificate. The petitioner is the wife of the deceased Mr.I.C.Iswaran, who died on 19.05.1978, leaving behind the securities more fully described in the schedule to the petition filed in support of O.P.No.920 of 2019.

2. Since the company has insisted for a succession certificate in view of the dispute raised by the respondent, the petitioner has approached this Court seeking for succession certificate.

3. The respondent has been duly served in O.P.No.920 of 2019 and he remains unrepresented in this petition.

4. The petitioner is the wife of the deceased Mr.I.C.Iswaran and she is his only legal heir as they do not have any issues out of their wedlock.

5. Since the petitioner is aged about 82 years, on the request made by her, this Court appointed an Advocate Commissioner to record her oral and documentary evidence at her residence and also directed the Advocate Commissioner to intimate the respondent about the same and also granted liberty to the respondent to cross examine the petitioner.

6. As directed by this Court, the evidence of the petitioner was recorded at her residence and the following documents were marked as exhibits:-

Exhibits

Nature of the documents

Ex.P1

Death certificate of Mr. I.C. Iswaran

Ex.P2

Legal Heirship certificate for Mr.I.C.Iswaran

Ex.P3

Letter from M/s. Ramco Cements Limited, disclosing the details of shares held by Mr. I.C. Iswaran

Ex.P4

Paper publication effected in one issue of “Makkal Kural” with regard to O.P.No.920 of 2019.

7. The petitioner, Mrs. I. Gomathy Ammal, the wife of the deceased Mr.I.C.Iswaran was examined as a witness (P.W.1) and only through her, the aforementioned documents were marked as exhibits. In her deposition, she has reiterated the contents of the petition filed in support of O.P.No.920 of 2019.

8. The Advocate Commissioner has also submitted a report enclosing the evidence of the petitioner and in his report, he has submitted that despite service of notice on the respondent and intimating him about the date of recording evidence at the petitioner’s residence, the respondent chose not to cross examine the petitioner on the fixed date. Therefore, it is clear that the respondent does not have any objection with regard to grant of succession certificate in favour of the petitioner.

9. The respondent’s father name is also I.C.Iswaran and the deceased, in respect of whom, succession certificate is sought for is also named Mr.I.C.Iswaran and there seems to be some confusion. Only on that ground, M/s. Ramco Cements Limited, the company in whose name the securities stand, has refused to transfer the shares in favour of the petitioner.

10. Since the respondent has not chosen to contest this petition, it is clear that he does not have any objection for grant of succession certificate in favour of the petitioner.

11. As seen from the evidence available on record, the petitioner is the wife of Mr.I.C.Iswaran (Deceased) and out of their wedlock, they do not have any issues, as seen from the Legal Heirship certificate, which has been marked as Ex.P2, which reveals that the petitioner is the only legal heir of the Deceased Mr.I.C.Iswaran. The details of the securities held with M/s.Ramco Cements Limited in the name of Mr.I.C.Iswaran is also confirmed through Ex.P3. Paper publication has also been effected in one issue of “Makkal Kural” with regard to O.P.No.920 of 2019.

12. An affidavit has also been filed by M/s. Ramco Cements Limited before this Court stating that the subject shares mentioned in the schedule to the petition remained unclaimed and therefore the shares were transferred to the Investor Education and Protection Fund (IEPF) of Government of India on 02.12.2017 in accordance with Section 124 (6) of the Companies Act, 2013 and the Investor Education and Protection Authority (Ac

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