CASTROL INDIA LTD Vs. MAHESH TAKHTANI

JUDGEMENT

(1.) THE complainant Mahesh Takhtani purchased 50 shares of Indrol Lubricants and Specialities Ltd. (ILSL) from respondent Castrol India Ltd. (Company). As he had lost these share certificates with purchase bill along with some other shares of other companies, he had lodged a complaint in the police station. Castrol India was also intimated of the same through his letter dated 13.1.1987. He had also obtained the stay order from Civil Court on the advice of the company on 26.2.1987 and informed the company about the same. The stand of the company initially was that the shares of bonus issue and right issue declared by the company were given to Mrs. Lalta Gupta.

(2.) THE complainant requested the company to disclose the distinctive numbers and certificate numbers of the Right Shares and Bonus Shares allotted to Mrs. Lalta Gupta.

(3.) THE stand of the company was that duplicate certificates could be issued to the complainant subject to the following conditions: