TaxTMI 
TaxTMI 
2020 (5) TMI 100
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....os. 1 and 2 to transfer the share certificate from its first registered holder to the petitioner and further to allot bonus shares and all other benefits in favour of the petitioner. Averments 2. The facts apropos to the petition in brief are : (1) Shri R. Muralidhar, father of the petitioner herein purchased 100 shares of M/s. Heritage Foods Ltd., bearing Distinctive Nos. 9012501 to 9012600 by paying full sale consideration through M/s. Target Investment/ share broker from its first registered joint holders Mona Goyal and Deepak Goyal, residing at Rohtak, Haryana/respondent No. 3. (2) The petitioner's father being ignorant of the procedure, kept the shares with him as is where basis. The petitioner later approached respondent No.....
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....provided any reasons or documents as to why the petitioner's father has not filed the petition but the same is filed by the petitioner (son). (2) It is the case of respondent No. 1 that upon verification it was found that there was a signature mismatch of the original transferor (i. e., respondent No. 3) and that as requested by respondent No. 2 the petitioner has not complied with the bank attestation of the signatures of respondent No. 3 on the transfer deed, attested copy of PAN card and address proof of transferor. (3) Respondent No. 1 relied on section 108(e) of the Companies Act, 1956 read with section 56 of the Companies Act, 2013 which deals with transfer of shares not to be registered except on production of instrument of t....
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....s Act, 2013. Hence, prayed to this Tribunal to allow the petition. Discussion 6. We have heard counsel for the petitioner. This is a petition filed under section 58 of the Companies Act, 2013 seeking direction to respondents Nos. 1 and 2 to transfer share certificate No. 48631, Folio No. HFL 009890 and Distinctive Nos. 9012501 to 9012600 comprising 100 shares, which were purchased from respondents Nos. 3 and 4, Mona Goyal and Deepak Goyal in the name of the petitioner and also to allot bonus shares and other benefits in favour of the petitioner. We have heard counsel for the petitioner and counsels for respondents Nos. 1 and 2. 7. On the directions of the Tribunal, notices were issued to the original holders of share certificate, namel....
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....t directed petitioner to obtain other documents from the transferor in view of the fact the signature of transferor is mismatched. Learned counsel contended that whereabouts of the transferors are not known and notice issued to the address available were not served and transfer of shares may be effected subject to any of the conditions imposed on the petitioner. 13. The case of the petitioner is that his father purchased the shares about 20 years ago but shares were not transferred in the name of father and now petitioner filed petition for direction for transfer of shares in his favour by submitting the transfer deed as well the original share certificate. The main objection of the first respondent who is authorised agent of the second re....
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....p Cas 313 (CLB). Similarly, counsel for the petitioner further relied on the decision of the Company Law Board, Southern Region Bench, Chennai, in the matter of Altina Securities P. Ltd. v. Satyam Computer Services Ltd. reported in [2007] 135 Comp Cas 464 (CLB). 16. We have gone through the decision cited. In the case before the Company Law Board, Eastern Region Bench, Kolkata cited above, the facts are similar to the facts of the case. "The company declined the request for registration of transfer of the impugned 100 shares on the ground that the signature of the holder did not match with the specimen and the validity period of the transfer deed had expired". The petitioner was requesting the transferor to execute a fresh transfer deed bu....