SOONI JAL TARAPOREVALA Vs. NESTLE INDIA LTD

JUDGEMENT

(1.) THIS is a company petition filed u/s. 59 of The Companies Act, 2013 seeking for transmission of shares of the late Mrs. Maneckbai Jal Taraporevala to the petitioners herein. In pursuance of the same, the following orders has been passed: First and second petitioners Sooni Jal Taraporevala and Dinoo Jal Taraporevala are daughter of late Maneckbai Jal Taraporevala, who held 32,329 equity shares of Rs. 10/ - each in R -1 Company along with her son Mr. Russi Jal Taraporevala (Respondent No. 2). The petitioner No. 3 is the husband of petitioner No. 2 and son -in -law of Maneckbai Jal Taraporevala. The previously mentioned Maneckbai Jal Taraporevala (herein after referred as late. Maeckabi) bequeathed her properties by executing a will dated January 10, 1996 appointing the petitioners as executors to her estate including the investments she made in her life and thereafter added a codicil signed on April 21, 1997 when she was residing at San Diego, California, USA. The petitioners mentioned in the CP that R -2 is a joint shareholder along with the deceased, they also mentioned that Late Maneckbai recited in her will that all investments lying either solely in her name or in the name of names are her absolute property and if any of them shown jointly, that is for her convenience, not otherwise.

(2.) THESE petitioners, in pursuance of the Will and Codicil thereof, filed Testamentary Petition bearing No. 1356/1999 before the Honourable High Court of Bombay praying for grant of Probate in respect of the will executed by late Maneckbai, since the parties in the probate proceeding filed consent terms dated 31 -5 -2011 between these petitioners and the son of late Maneckbai, Mr. Russi Jal Taraporevala (R -2) agreeing that the remaining half share of the House Woodlands flat at 67 Peddar Road, Bombay shown as bequeathed to 2nd petitioner in the Will would come to R -2 herein, in consideration, R -2 gave up all rights to any and all other assets and benefits under the Will dated 10.1.1996 and Codicil dated 21.4.1997, on which, the Honourable High Court issued Probate in respect of the Will dated 10.1.1996 and Codicil dated 21.4.1997.

(3.) THE petitioners being aggrieved of refusal of the request for transmission of the shares in dispute by R -1 company vide their letter dated 10.7.2013, they fled this company petition seeking for transmission of these shares in the name of them as recited in the Will and Probate thereof. The petitioners counsel submits that R -2, despite service of notice upon him as per directions of this Bench, has remained absent, therefore, case has to be set ex parte against him and pass orders on hearing the petitioners.