Tek Chand, J.

1. This is a petition under Section 38 of the Indian Companies Act, 1913 , which is analogous to Section 155 of the Companies Act of 1956. There are two petitioners. The first petitioner Bhagat Singh claimed to have 41 shares of Rs. 100/- each in the "Piar Bus Service Limited, Amritsar. This amount, he claimed to have paid by giving to the Company two motor lorries of the value of Rs. 4,100/- and he claims himself to be a holder of fully paid up shares.

2. The second petitioner is Hardev Singh who had acquired 100 shares of the Company of the value of Rs. 100/- each and had paid the entire amount of Rs. 10,000/- on these shares. The grievance of the two petitioners is that their respective shares were illegally forfeited by the Company and they were transferred to respondents Nos. 2 to 4 and their names have been scored out from the register of members of the Company. They have prayed that this Court should pass an order directing the respondent-Company to enter the names of the petitioners in the register of members and to remove the names of respondents Nos. 2 to 4.

3. On behalf of the Company it is denied that the first petitioner Bhagat Singh was a holder