KAMALKANT Vs. LUPIN LABORATORIES LTD

JUDGEMENT

(1.) This appeal has been filed under section 96 of the Code of Civil Procedure, 1908 by the plaintiffs whose suit has been dismissed at the threshold by learned trial Court.

(2.) A civil suit has been filed by the plaintiffs that plaintiff No. 1 Kamalkant Goyal got 100 shares of M/s Lupin Laboratories Limited, a company registered under the Indian Companies Act, 1956 (hereinafter referred to as the Companies Act) on 15-9-1995. Similarly, plaintiff No. 2, 3 and 4 namely Sanjay Goyal, Smt. Kasturi Bai and Smt. Usha Goyal respectively also purchased 100 shares each of the said Company. On 28-1-1996, a bag containing all the share certificates of the plaintiff along with transfer deeds were misplaced and lost and despite due efforts took by the plaintiffs, they could not be searched. Hence, a suit has been filed by the plaintiffs to declare that defendant should not transfer the share certificates of plaintiffs to any other person and also to issue duplicate share certificates. A decree of injunction has also been sought that defendant should not transfer the share certificates of the plaintiffs.

(3.) The learned trial Court after considering the various provisions of the Companies Act came to hold that Civil Court is not having any jurisdiction and hence dismissed the suit.