P.C.PANDIT, TEK CHAND
S. Bhagat Singh – Appellant
Versus
Satnam Transport Co. Ltd. – Respondent
P.C.Pandit, J.
1. Bhagat Singh Plaintiff held 50 shares in the Sat-nam Transport Company Limited, Rohtak, defendant No. 1. Since the Managing Director and Chairman of the Company did not manage the Company properly and committed certain irregularities, the plaintiff filed an application for the winding up of this Company in this Court and this application was fixed for evidence for the 19th August, 1955, On the 5th August, 1955, a compromise was, however, effected between the plaintiff and the Company whereby, Balmokand (defendant No. 2), who is the Chairman of the Company, agreed to get these 50 shares transferred in his favour on paying Rs. 6,000/- to the plaintiff, On that very date the plaintiff executed a receipt for Rs. 6,000/- towards the price of these 50 shares and also a deed of transfer in favour of Balmokand (defendant No. 2), These two documents and the shares scrips were then handed over to Jai Ram (defendant No. 3). It was agreed that Balmokand would pay Rs. 6,000/- to the plaintiff within a week through Jai Ram who would then hand over these documents to Balmokand and in case Balmokand failed to make the payment, the documents would be returned to the plaint
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