PRABODH JAMNADAS KOTHARI Vs. VIKRAM JAMNADAS KOTHARI

JUDGEMENT

(1.) The Plaintiff has sued for declaration of the estate of his deceased father and for his 1/2 share, right, title and interest therein in respect of the properties set out in ExhibitC to the plaint.

(2.) Properties at item Nos. 1 and 2 are the main properties with which the parties are at dispute. Item No.1 relates to 49010 shares of KNK Trading Pvt. Ltd., stated to have been owned by the Plaintiff's father.

(3.) The Plaintiff's father has executed a Will in 2003 bequeathing the shares equally to his two sons the Plaintiff and Defendant No.1. The defendants claim that the shares are transferred to Defendant No.2, the wife of Defendant No.1 in 1999 itself. The Plaintiff has challenged the transfer as fraudulent. The Plaintiff has shown the annual returns of Defendant No.5 company which shows the transfer effected in the first year of the incorporation of the company itself. The very first annual returns filed under Section 169 of the Companies Act shows the transfer executed in the name of Defendant No.2 of 49000 shares (Whereas 49010 shares were actually transferred). The date of the transfer is not shown in the returns. It is contended that transfer has not taken place between the date of the first AGM and the date of filing of the returns. The date of the filing of the returns is not shown in the returns. All later documents follow therefrom. The Plaintiff has challenged all the documents emanating from the initial transfer. The Defendants have sought to show that the father of the Plaintiff and Defendant No.1 who was the Director of the company signed such returns from year to year as also his personal tax returns.