IN THE NATIONAL COMPANY LAW TRIBUNAL

NEW DELHI BENCH

COURT-IV

COMPANY PETITION NO. 90 OF 2023

(Under Section 46 & 59 of the Companies Act, 2013 read with Rule 11

of the National Company Law Tribunal Rules 2016)

IN THE MATTER OF:

SANJAY GUPTA

R/o 3/27, 1st Floor, Roop Nagar,

Malka Ganj, Delhi-110007

…PETITIONER

VERSUS

1. NALWA SONS INVESTMENT LIMITED

(formerly, Jindal Strips Limited)

Registered Office: 28, Najafgarh Road,

Moti Nagar Industrial Area,

New Delhi-110015

…RESPONDENT NO. 1

2. LINK INTIME INDIA PRIVATE LIMITED

Noble Heights, 1st Floor,

Plot No. NH-2, C-1 Block, LSC,

Near Savitri Market, Janakpuri,

New Delhi-110058

…RESPONDENT NO. 2

3. SINGHAL CREDIT MANAGEMENT LLP

(Formerly, Singhal Credit Management Ltd.)

Registered Office: E-127, Industrial Area,

Bhiwadi-301019

…RESPONDENT NO. 3

4. RAJENDRA KUMAR SINGHAL

Opposite Arya Girls High School,

Jail Ground, Sirsa-125055

…RESPONDENT NO. 4

Order Pronounced on: 02.04.2024

CORAM:

SHRI MANNI SANKARIAH SHANMUGA SUNDARAM, HON’BLE MEMBER

(JUDICIAL)

DR. SANJEEV RANJAN, HON’BLE MEMBER (TECHNICAL)

PRESENT:

For the Applicant : Mr. Saubhagya Agarwal, Ms. Rakshita Rastogi, Ms. Prena Gupta, Advs

ORDER

PER: MANNI SANKARIAH SHANMUGA SUNDARAM, MEMBER (JUDICIAL)

1. This is an application filed by the Petitioner under section 46 and 59 -

of the Companies Act, 2013 seeking the following reliefs a. Direct the Respondent No. 1 Company and Respondent No. 2 to issue duplicate share certificate in lieu of Certificate No. 14000 of 100 shares of Respondent No. 1 Company having Distinctive No.

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3101701 3101800 in favour of the Petitioner along with all the accumulated and accrued benefits, rights or interests associated with the subject share certificate i.e., dividend, bonus shares, right shares and shares allotted upon merger/demerger/restructuring, etc.;

b. Pass such other directions as it may deem fit and proper in the facts and circumstances of the present case.

2. The brief facts leading to the filing of this petition as averred by the -

petitioner are as follows:

i. That the petitioner holds 100 shares of Respondent No. 1 Company vide Certificate No. 14000 having Distinctive No.

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3101701 3101800 under Folio No. 62457. The Petitioner being the shareholder in the past has received correspondence dated 18.09.2019 from the Respondent No. 1 Company containing notice to surrender the original share certificate of Respondent No. 1 Company for exchange with the new share certificates -

pursuant to sub division of equity shares.

ii. That around February/March 2007, while checking his investment records, the petitioner came to realize that original share certificate of Respondent No. 1 company was missing and untraceable. Without any delay, Petitioner lodged a police complaint reporting of the loss of original share certificate from his work premises. However, no FIR was registered by the police officials. It is imperative to state here that the Petitioner is unable to locate the copy of the aforesaid police compliant in support of his submission. However, other police compliant made by the petitioner on 27.10.2007 regarding loss of share certificate which is placed on record.

iii. That the Petitioner tendered an application to Respondent No. 1 Company requesting issue of duplicate share certificate in favour of Petitioner in lieu of untraceable original share certificate. In its response dated 04.07.2007 of the then Registrar of Respondent No. 1 Company, refused to issue of duplicate share certificate claiming the original share certificate to be in circulation. The Petitioner was shocked to know that the original share certificate was lodged for transfer by some unknown parties, being Respondent No. 3 and 4 herein and was returned to them by the Respondent No. 1 Company without give any transfer effect.

iv. It is submitted that the Petitioner had never mortgaged, sold or transferred the original share certificate to any person/entity. Without the knowledge and consent of the Petitioner, Respondent No. 3 and 4 obtained illegal possession of the original