Legal Rights of a shareholder in listed company
Shelley Agrwal
(Querist) 17 May 2011
This query is : Open
the fact of the case are as follows:
1. the incident is dated back to 8 years.
2. the person held the shares of madras port ltd.
3. the company was delisted and it offered the person for forefeiture of the same but that person refused and kept the same with himself....
Que 1: after delisting the shares with the above shareholder are of any worth or not???
fact 4: the person after a little while sent the same shares and other scripts to bank for dematerialisation & securtisation.
5. the bank sent the scripts of madras port to the company for same, the company acquired the same and without the permission of the sahreholder forfeited the same and send the shareholder cheques relating to the reffered shares.
Que 2: Can the Company do what it did was the act legal???
Fact 6. the cheques were received by the shareholder but never deposited in the bank for clearing...
Que. 3: Can they be encashed by any means now???
Ques 4: Is there any remedy for the shareholder to get back the money involved??
and does the shareholder has any remedy agains what the compan did??
is there any limitation of time involved in this case???
Please reply specifing the applicable ACTS & related Provisions & Sections
