KHUSHAL JAIN Vs. SIDHARTH TUBES LTD

JUDGEMENT

(1.) APPELLANT/plaintiff has filed the appeal under section 96 of the CPC against the judgment and decree dated 10-8-1994 passed in Civil Suit No. 85-A/93 by 2nd Additional District Judge whereby the suit for declaration and injunction of the appellant was dismissed.

(2.) THE case of the appellant/plaintiff is that the appellant has purchased the share of 11,000 from M/s. Sidharth Tubes Ltd. each share having value of Rs. 10 as described in the schedule of the plaint. That the plaintiff has purchased about 50% of these shares from the brokers and about 50% of the shares from the company. It is alleged by the plaintiff that the entire amount for the purchase of share was paid by him and the share certificate along with the transfer deed was obtained by him. It is con- tended by the plaintiff that from his office all 110 share certificates were stolen along with the transfer deed of the shares. That the plaintiff has sent the notice to the defendant M/s. Sidharth Tubes Ltd. to stop the transfer of the alleged shares and restrained the defendant to pay the dividends of the shares to the brokers or the shareholders.

(3.) THE learned Trial Court has dismissed the suit holding that the plaintiff has failed to prove the loss of the share certificates and the transfer deed. The learned Trial Court has further held that M/s. Sidharth Tubes Ltd. was entitled to pay the amount of the dividends to the persons in whose name the share was issued and the plaintiff is not entitled to get the injunction and declaration prayed by him.