VIJAY GOPAL JINDAL Vs. SREI INFRASTRUCTURE FINANCE LIMITED

JUDGEMENT

(1.) THIS application has been made under Order VII Rule 11 CPC by defendant No. 1 for rejection of the suit on the ground that the plaintiff has undervalued the suit and had not paid proper court fees.

(2.) IT is submitted that the plaintiff has valued the relief at Rs. 20,70,000/-for the purpose of court fees and jurisdiction whereas the plaintiff has claimed relief of more than Rs. 5 crores since 5,00,000 units of shares about which the plaintiff has claimed relief were valued under the agreement at rs. 100/- per share and that total value of these shares comes to Rs. 5 crores. The defendant No. 1 has relied upon a letter dated 2nd July, 2007 to press this argument where the value of the share is given as Rs. 100/- per share.

(3.) IT is submitted by learned counsel for the plaintiff that the plaintiff was not seeking relief in respect of Rs. 5 crores but the plaintiff was, in fact, asking that the shares actually belonged to the plaintiff and should be transferred in favour of the plaintiff as the value of shares has already been paid by the plaintiff; one per cent by way of cheque and remaining 99 per cent through the commission and profits, to which the plaintiff was entitled to, but was not received by the plaintiff from the defendants.