SIMRET KATYAL Vs. MAHAVIR ICE MILLS PVT LTD

JUDGEMENT

(1.) THIS is a petition filed under Section 111 of the Companies Act, 1956, on April 16, 1992, against Mahavir Ice Mills Private Ltd. (hereinafter called "the company") and two others, praying for rectification of the register of members of the company and to register transmission of 18,321 equity shares held by the late Shri Harinder Katyal, in favour of the petitioner. The company was incorporated on February 8, 1949. The authorised capital of the company is Rs. 10 lakhs. The petitioner is the widow of the late Harinder Katyal who was a shareholder and director of the company. The deceased was also the brother of respondents Nos. 2 and 3, who are the directors of the company. Shri Harinder Katyal who died on February 11, 1990, held 18,321 equity shares of Rs. 10 each in the company. Subsequent to his death on April 30, 1990, the petitioner and respondent No. 2 entered into a compromise in a litigation pending between them in the High Court of Delhi, in which a memorandum of settlement was signed resulting in settling some of the disputes between the two parties. A consent decree was passed by the Hon'ble Delhi High Court accordingly. In the above proceedings, respondent No. 2 has acknowledged the petitioner as the sole heir and respondent No. 3 was a witness to the said memorandum of understanding. According to the petitioner by virtue of the operation of law, the petitioner is entitled to the shares held by her husband, the late Harinder Katyal. The company is presently not doing any business but owns certain properties.

(2.) It is stated in the petition that the petitioner wrote to the company on April 27, 1991, for transmission of the said shares but it was declined to be accepted by the respondents.

(3.) THE petitioner alleged that the respondents are evading the service of notice from the Bench. On further direction the petitioners could serve on respondent No. 3 but were not successful in serving on respondents Nos. 1 and 2.