TaxTMI 
TaxTMI 
1994 (12) TMI 262
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.... IA No. 7 of 1994. 2. Originally the applicant, Shri L.C. Malhotra, had moved this Commission with an application under section 10(a)( i) of the Act stating that he had lodged with the respondent-company Amrit Banaspati Co. Ltd. 800 Preference Shares properly executed and stamped seeking transfer of the same on 4-9-1992, that the respondent-company of which Shri N.K. Bajaj is the Chairman and Managing Director had pointed out some defects in the documents, that the applicant had rectified the same and re-submitted the same, that the respondent had not effected the transfer of shares nor replied to his letter to Shri Bajaj, that the respondent by withholding the transfer of the shares had manipulated the condition of delivery of goods the....
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....resented his arguments. 7. The only issue which was agitated forcefully by the applicant is that even if there is another forum for relief for the applicant in respect of the refusal by the respondent to transfer the shares lodged by him, the MRTP Commission has jurisdiction to deal with the matter as a restrictive trade practice and to provide the needed relief for the applicant. It has to be stated at the outset that the respondent-company on being communicat- ed with a copy of the original application of Shri Malhotra for comments, had stated that there was a dispute among the family members of the applicant, that Shri P.L. Malhotra, the brother of applicant Shri L.C. Malhotra had raised a dispute and had instructed the respondent not....
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....as not been duly stamped and executed or the certificate relating to the security has not been delivered to the company or any other requirement under the law relating to registration of such transfer has not been complied with; (ii)the transfer is in contravention of any law ; (iii)the transfer is likely to result in such change in the composition of the Board of Directors as would be prejudicial to the interests of the company or to the public interest; and (iv)the transfer is prohibited by any Court, Tribunal or other authority under any law for the time being in force. In case of refusal to transfer the shares, the company has the responsibility to inform the transferor and the transferee in the prescribed form in certain ci....
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....ry of goods (shares) thereby imposing on him unjustified costs and restrictions. Even though, not explicit, another charge is that the respondent-company has indulged in some false representation or deception or some unfair method or practice to attract the provisions of section 36A. In both these sections in the Act either there has to be manipulation of conditions of delivery or false representation or deceptive practice. 17. The expression 'manipulation' has in its normal meaning a pejorative element. In terms of the meaning giving in the Chambers English Dictionary (1988 Edition), manipulation will constitute giving a false appearance or turning something to one's own purpose or advantage. This, therefore, implies that, on the facts ....