- (1.) The present petition has been filed by petitioner Mrs. Malti Bhargava Wife of Late Sh. Nakul Bhargava, under section 58 and 59 of Companies Act, 2013 (for brevity "the Act"), against Respondents with the following reliefs: "a. That an order/decree for the transmission of shares may be passed in favour of Petitioner by the Respondents and it may be declared that the Petitioner is the rightful owner of 6,644 Equity Shares and 4,057 Preference shares of face value of Rs. 10/- each (equity shares) and Rs. 10/- each (preference shares) which were registered in the name of the Late SH. Nakul Bhargava in the books of Caxton Press Pvt. Ltd. b. That the Respondent No. 1 company be directed to rectify the register of members and enter the name of Petitioner by transmitting the shares of her late husband Sh. Nakul Bhargava 6,644 equity shares of Rs. 10/- each and 4,057 preference shares of Rs. 10/- each in the company and other entitlements and the Register of members be rectified under sections 58 and 59 of the Companies Act, 2013 and the name of the Petitioner be entered in the Register of Members in respect of Shares preference and equity owned by late Nakul Bhargava. c. That the Respondents be directed to refund the dividends, interest, bonus and/or rights entitlements received by him in respect if above shares preference and equity. d. That the past, pendente lite and future interest on the amount of dividends and interest already received by Respondents @18% p.a. may be awarded in favour of the Petitioner and against the Respondents. e. That the entire cost of the suit may be awarded in favour of Petitioner and against the Respondents. f. That any other relief which may deem fit and proper under the circumstances of the case may be awarded in favour of the Petitioner and against the Respondents."
(2.) It is the case of the Petitioner that her deceased husband Nakul Bhargava, was the Managing Director and shareholder of the Respondent No. 1 Company, M/s. Caxton Press Private Limited and was holding 6,644 equity shares and 4,057 preference shares of the Respondent No. 1 Company. Mr. Nakul Bhargava husband of Petitioner expired on 07.10.2015 leaving behind the Petitioner (wife) and two daughters. Ld. Counsel for the Petitioner submitted that after the demise of Petitioner's husband, the Petitioner had submitted all relevant documents i.e. Death Certificate, Indemnity Bond and NOC from other legal heirs etc. to the Respondent No. 1 Company and requested the Respondents to transmit the shares held in name of Mr. Nakul Bhargava, in favour of Petitioner. It is also the case of the Petitioner that Respondent No. 3 never disputed the Petitioner's claim for transmission. However Respondent No. 2 insisted upon production of succession certificate for transmission of deceased shares in the name of the Petitioner. Consequently Petitioner applied for Succession Certificate from the competent civil court for transmission of equity and preference shares of late Mr. Nakul Bhargava. The Competent Court of Civil Judge, Saket Courts, New Delhi, had issued the Succession Certificate on 18.03.2016, in favour of the Petitioner in respect of 6,644 equity shares and 4,057 preference shares held in the name of Late Nakul Bhargava. The Succession Certificate dated 18.03.2016 has been placed on record. It is stated that the said certificate was duly sent to the Respondents for further proceedings but again nothing has been done by Respondents. It has been affirmed that the said Succession Certificate has not been assailed by any of the Respondents.
(3.) It is submitted by the Petitioner that a legal notice was sent to the Respondents on 14th June 2016, for transmission of shares, but no reply has been received, from Respondent No. 1 and 2, although Respondent No. 3, had sent a reply to the Petitioner in which it was stated by Respondent No. 3 that he has no objection to the said transmission of shares but due to the objections of the Respondent No. 2, the transmission could not take place. Ld. Counsel for the Petitioner submitted that, when transmission of shares was not made by Respondents, even after getting Succession Certificate from the Competent Court, the Petitioner is left with no other option except to file the present petition.;