SHREE BAHUBALI INTERNATIONAL LTD. Vs. SARITA SETHI

JUDGEMENT

(1.) This is a winding up application coming up for admission. The company is stated to be a depository participant, the petitioner having an account with them. The company is also a stock broker.

(2.) In 2000 the petitioning creditor opened a demat account with the company. She deposited 1000 equity shares of a company Moser Baer with them. In 2003 Moser Baer announced bonus shares in the ratio 1:1. The shareholding of the petitioning creditor became 2000 equity shares. I am told they have 3000 equity shares today with the company.

(3.) Now, the dispute between the parties is like this. In 2007 the petitioning creditor is said to have instructed the company to sell 2000 shares (it did not become 3000 at that point of time) in the market. The prevailing rate was said to be Rs. 494.05.