TaxTMI 
TaxTMI 
1975 (4) TMI 74
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....held 1,500 shares in Messrs. Singh Engineering Works (Private) Ltd., Kanpur, the respondent-company. Nearly five years after his death the applicants, who are the widow and the children of the deceased, Sardar Gurcharan Singh, sent a letter dated 29th April, 1974, to the company requesting the transmission of 1,500 shares held by Sardar Gurcharan Singh in favour of the applicants. On 9th May, 1974, the company replied that Sardar Gurcharan Singh had left a will, under which the 1,500 shares held by him were bequeathed by him to Sardar Deva Singh Inder Singh Public Charitable Trust. Sardar Gurbux Singh, who had been nominated as the executor of the will, applied to the company for transmission of the 1,500 shares in favour of the trust. The....
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....his has been done on the basis of a will executed by Sardar Gurcharan Singh, which will has been treated by the company as a valid document. The applicants have not impleaded the trust. They have not taken any steps to summon the will which is alleged by the company to be in the possession of the executor. The applicants have led no evidence to disprove the will or its execution. It is evident that unless the validity of the will is adjudicated upon, the company cannot be castigated for having transmitted the shares in favour of the trust. Till the transmission effected by the company in favour of the trust is set aside no direction can be made for rectification of the register of the company by effecting transmission of the shares in favou....