BHARATI CHADHA Vs. RANBAXY LABORATORIES LIMITED

JUDGEMENT

(1.) This order will dispose of application of the plaintiff under Order 39 Rules 1 & 2 Civil Procedure Code, the application of the defendant under Order 39 Rule 4 Civil Procedure Code as well as the application of the defendant under Section 10 of the CPC.

(2.) The short point which arises for consideration in the present suit is whether a person who has transferred the shares in ajoint stock company to another person, is a trustee of the transferee in respect of the dividends, bonus shares and the right shares which may be issued by the company before the transferee applies for transfer of shares in his name and as to whether the principle of equity which makes the transferor a constructive trustee extends even to a case where a transferee does not take active interest to get on to the register.

(3.) Before dealing with this question, I may give the facts in short which have resulted in the filing of the present suit.