GULSHAN MAHINDRU Vs. RELIANCE INDUSTRIES LTD.

JUDGEMENT

(1.) BY the present petition, filed under section 111A of the Companies Act, 1956 ('the Act') the petitioner has, inter alia, prayed for a declaration to the effect that he is lawful owner of the impugned shares, details whereof are set out in the petition. It is further prayed that the first respondent -company may be directed to enter the name of the petitioner in the register of members of the first respondent -company with all consequential benefits from the date of purchase of the impugned shares until date of decision. The facts of the petition in brief leading to filing of the present petition are as under:

(2.) IN pursuance to the notice, the R1 -company filed it's reply. Other respondents, however, did not prefer to appear nor filed any reply in spite of sufficient service.

(3.) IT is further stated in the reply that bonus shares issued in the year 1997 were despatched to the registered holders/transferees of the said shares and the same have been dematerialised by the said registered holders, save and except 50 bonus shares standing in the name of the respondents. As such, 550 bonus shares have already been dematerialised and, therefore, no order can be passed against the respondents in respect of the said shares. The petitioner may claim the said shares and all accrued benefits thereon from the registered holders/respondent Nos. 2 to 5.