NCLT, BENGALURU BENCH C.P.No.18/BB/2021

Page 1 of 10

IN THE NATIONAL COMPANY LAW TRIBUNAL

BENGALURU BENCH

C.P.No.18/BB/ 2021

U/ss.56 & 58 and other relevant

Provisions of the Companies Act, 2013,

R/w. Rule 70 of the NCLT Rules, 2016

Between:

Mrs. Nalini Hari

W/o. Mr. S. Hari

No.3, Palat Madhavan Road,

Mahalingapuram,

Chennai – 600 034.

- Petitioner

And

M/s. Mysore Stoneware Pipes & Potteries Ltd.

R/o. at No.452, 11^th Cross,

6^th Main, Sadashivanagar,

Bengaluru – 560 080.

-

Respondent

Order Pronounced On: 8^th April, 2021

Coram: 1. Hon’ble Shri Rajeswara Rao Vittanala, Member (Judicial)

2. Hon’ble Shri Ashutosh Chandra, Member (Technical)

Parties/Counsels Present:

For the Petitioner

:

Mr. Anshuman Murali

For the Respondent

:

Ms. V. Rajini

O R D E R

Per: Rajeswara Rao Vittanala, Member (J)

1.

C.P.No.18/BB/2021 is filed by Mrs. Nalini Hari (Petitioner), U/ss.

56 & 58 and other relevant provisions of the Companies Act, 2013,

R/w Rule 70 of the NCLT Rules, 2016 against M/s. Mysore

Stoneware Pipes and Potteries Limited (Respondent), by inter alia

seeking to direct the Respondent Company to effect the

transmission of the 15,419 shares of Rs.10/- each lying in the

NCLT, BENGALURU BENCH C.P.No.18/BB/2021

Page 2 of 10

name of the Late Mr. R. Kapanipathi Rao and to register the same

in favor of the Petitioner; to direct the Respondent Company to

transfer/pay dividends due to Late Mr. R. Kapanipathi Rao lying

with the Company in the Unclaimed Unpaid Dividend Account

from 02.06.2014 till date in favor of the Petitioner; direct the

Respondent Company to transfer/allot bonus and proportionate

rights share (if any) due to Late Mr. R. Kapanipathi Rao in favor of

the Petitioner etc.

2.

Brief facts of the case, as mentioned in the Company Petition,

which are relevant to the issue in question are as follows:

(1)

Mrs. Nalini Hari (hereinafter referred to as Petitioner) is a

daughter of Late Mr. R. Kapanipathi Rao, the Founder-

Promoter of the Respondent Company, who at the time of his

death held around 15,419 shares in the Respondent Company.

(2)

M/s. Mysore Stoneware Pipes & Potteries Limited (herein after

referred to as the Respondent/Company) is a public Limited

Company was incorporated on 25.03.1937 vide it CIN:

U26913KA1937PLC000197, under the provisions of the

Companies Act, 1913. Its Authorised Share Capital of the

Company is Rs.10,00,00,000/- (Rupees Ten Crore only) and

the Issued, Subscribed and Paid-up Capital is Rs.73,92,000/-

(Rupees Seventy Three Lakhs Ninety Two Thousand).

(3)

The Petitioner, as the daughter of Late Mr R. Kapanipathi Rao

is the legitimate claimant entitled to the shares held by him in

the Respondent Company. Her three siblings have given a

letter of waiver/relinquishment of their right to the above

shares in favour of the Petitioner. The said letters were duly

submitted to the Respondent Company along with the

Petitioner’s Application for transmission of Shares.

(4)

On 22.10.2014, the Petitioner obtained the Legal Heirship

Certificate from the Tahsildar, Egmore Taluk Office, Chennai –

31 in her name and that of her three other living siblings for

NCLT, BENGALURU BENCH C.P.No.18/BB/2021

Page 3 of 10

the purpose of effecting transmission of the said shares held

by their father. On 23.12.2019, the Petitioner personally

submitted

her

first

formal

application/intimation

for

acceptance of transmission to the Respondent Company in the

prescribed format with all relevant documents including an

indemnity bond for issue of duplicate share certificates,

succession

certificate,

legal

heirship

certificate,

death

certifi