KEDAR NATH AGARWAL Vs. JAY ENGINEERING WORKS LTD

JUDGEMENT

(1.) THIS is an application for an Order, inter alia, (a) that the respondent Jay Engineering Works Limited be ordered to allot the new shares issued by it by resolution dated the 13th January, 1961, appertaining to the 500 shares held by the petitioner and bearing specified Serial numbers to the petitioner and (b) that the register of members of the respondent Jay Engineering Works Limited be rectified by entering the name of the petitioner as the registered holder of the new shares appertaining to the said 500 shares.

(2.) THE facts briefly are as follows: The petitioner purchased in June, 1960, the aforesaid shares; 300 of which were registered in the name of the respondent No. 3 Vinochandra Chunilal Mehta ; and 200 of which in the name of the respondent No. 2 Sir Chunilal Baichand Mehta and Central Bank, Executor and Trustee Company Private Limited. The copies of the relevant transfer deeds signed by the registered holders, the receipts, the bills and other documents have been annexed to the affidavit in reply and marked 'a'.

(3.) ON the 14th June, 1960, the petitioner wrote to its Bankers, The Punjab National Bank Limited enclosing the transfer deeds for 200 shares which stood in the name of the respondent No. 2 and requesting the Bank to take steps to have the shares registered in the petitioner's name. On the 16th June, 1960, a similar letter was addressed to The Punjab National Bank Limited by the petitioner in respect of 300 shares registered in the name of the respondent No. 3.