DULLAR ENTERPRISES PRIVATE LIMITED Vs. BHAGWAN

JUDGEMENT

(1.) These connected revision petitions have arisen out of the orders passed in Civil Suit Nos. 256/91, 218/89, 245/91, 243/91 filed against the same defendant and pending in the same Court and arising out of similar set of facts and, therefore, are being decided together.

(2.) Identical suits were filed by the plaintiffs, now the respondents in the revision petitions, for recovery of amounts as mentioned in the suit from the defendant, now the petitioner, which is a registered private limited company under the Companies Act and its Directors and the Managing Director. The plaintiffs had alleged that they had applied for purchase of certain shares of the company by depositing money and obtaining receipts. Neither the shares were allotted nor any information in regard to shares was given to the plaintiff and repeated requests made to the concerned persons of the company also did not bring any fruit except that false promises were given. It is stated that because the shares had not been allotted, the company was duly informed by the plaintiffs that they are not now interested in the allotment of shares. This intimation was given by telegram on 7-4-1987.

(3.) Till the filing of the suits, according to the plaintiff, neither any shares were allotted nor the money was returned and, therefore, a notice was also issued on 1-12-1988 through counsel which notice was returned back. For the reasons that neither the shares were allotted nor money was returned, the plaintiffs filed a suit for recovery of the amount along with interest as mentioned in the plaint. In the written statement filed by the respondent, a defence was taken that the shares had actually been transferred in the name of the plaintiffs, i.e. certain shares were transferred from other share holders. In paras 12, 13, 14, 15 and 16, plea was taken that in case the plaintiffs are aggrieved of the fact that shares had not been transferred or allotted, in that situation, they should have resorted to the provisions u/s. 113(3) of the Companies Act.