(1.) BY this motion, plaintiffs are seeking reliefs of Receiver and injunction in respect of shares of defendant No.1 company, which are described at Ex.'A', page 16 to the plaint. Suit is filed for declaration that plaintiff by operation of law are entitled for shares and dividends thereon and bonus or right shares, which may be issued by the company from time to time.
(2.) PLAINTIFFS are legal heirs of Mrs.Ramola T. Lalvani, who was shareholder of defendant No.1 company holding 300 equity shares of face value of Rs.100/- each. Plaintiffs have come with the case that after death of Mrs.Ramola, shares were not transferred in name of plaintiffs. That defendant No.2, a sub-broker of Stock Exchange represented to plaintiff No.1 that he will be in a position to get the shares transferred in name of plaintiff No.5. In view thereof, in month of October 1994, shares were handed over to defendant No.2. Plaintiffs claim that plaintiffs requested defendant No.2 from time to time as to the progress of transfer of shares, however, defendant No.2 went on giving excuses. Defendant No. 2 ultimately informed plaintiffs, in month of June 1995, that shares have been lost or misplaced. The said fact thereafter was placed on record by plaintiffs with defendant No.1 company. Plaintiffs have further stated that defendant Nos.3 and 4 have lodged some shares for transfer. However, the said shares are not transferred. Plaintiffs, thus, claim that plaintiffs are entitled for the reliefs as prayed in the motion.
(3.) PLAINTIFFS have pressed for other prayers i.e. company be directed to hand over original shares, Court Receiver be appointed and company be directed to issue duplicate shares. As far as prayer (b) in respect of direction to hand over the original shares to plaintiffs is concerned, said prayer cannot be entertained at this stage. For that plaintiffs have to wait till this suit is decided. By prayer clause (c), plaintiffs have prayed for Receiver. Said prayer reads as under: