XAVIER JOSEPH Vs. INDO SCOTTISH BRAND PRIVATE LIMITED

JUDGEMENT

(1.) THIS is a petition under Section 111 of the Companies Act, 1956 ("the Act") against M/s Indo Scottish Brand Private Limited ("the Company") seeking directions for transmission of the shares impugned in the petition in favour of the petitioner.

(2.) The facts of the petition, in brief, are that Shri C.A. Mani holding 2,500 shares of the Company died on 23.04.1997 leaving behind a registered Will dated 13.11.1995, bequeathing, inter-alia the said shares in favour of the petitioner. By virtue of the Will, the petitioner became entitled to the impugned shares. In spite of the repeated requests made by the petitioner, the Company failed to transmit the impugned shares in favour of the petitioner. Hence the petition.

(3.) SHRI C.M. Devan, Senior Advocate for the petitioner has read out the relevant recitals from Malayalam version of the Will to show that the impugned shares have been bequeathed in favour of the petitioner. By virtue of the Will, the petitioner has become the absolute owner of the shares. He further pointed out that the petitioner is entitled for the shares by virtue of operation of law and the Company cannot refuse transmission of the shares in favour of the petitioner. In the circumstances, he sought for intervention of this Bench directing the Company to transmit the shares in favour of the petitioner.