SHRIPAL JAIN Vs. TORRENT PHARMACEUTICALS LIMITED

JUDGEMENT

(1.) Special leave granted,

(2.) The share certificates purchased by the appellant in respect of M/s torrent Pharmaceuticals Ltd. were stolen. The appellant approached the registrar, Respondent 2 in the appeal herein, for issue of duplicate certificates. The Registrar directed the appellant to have a direction in this respect from the civil court. The civil court rejected the application of the appellant. The High court dismissed the civil revision filed by the appellant in limine.

(3.) We are of the view that the Registrar of the Company was in patent error in referring the appellant to the civil court in the facts and circumstances of the present case. He should have himself held an enquiry into the matter under section 84 (4 of the Companies Act read with the Companies (Issue of Share certificates) Rules, 1960 and taken a decision himself in the matter.