Prem Chand Jain, J. - (1.) The facts of this case may briefly be stated thus :
(2.) Joginder Singh, appellant, had shares Nos. 424 to 443 and 3859 to 3868 of Onkar Bus Service Ltd., Jullundur, respondent (hereinafter referred to as 'the company'), as entered in Share Certificate No. 41, L.F. No. 50, dated 30 Oct., 1945, and No. 41, L.F. No. 339, dated 19 Dec., 1951, respectively. According to the plaintiff, the appellant transferred the aforesaid shares to him and executed a transfer deed for this purpose. The transfer deed was handed over to the company for giving effect to the transfer of the aforesaid shares in the name of the plaintiff-respondent. It was further alleged that the company in collusion with the appellant failed to give effect to the said transfer in favour of the plaintiff in the registers of the company, with the result that the plaintiff was not paid any dividend on those shares, in spite of repeated demands. With the above allegations, the plaintiff-respondent filed a suit for a declaration against the appellant and the company to the effect that he was the owner, by transfer, of shares Nos. 424 to 443 and 3859 to 3868 as described above. A further prayer for the issuance of a permanent injunction to the company to recognise the rights of the plaintiff and to bring his name as a shareholder in the company's registers and to pay all dividends accruing in respect of the said shares to the plaintiff has been made.
(3.) The suit was contested by the defendants on several grounds.;