related to illegal duplication & dematerialisation of shares
Querist :
Anonymous
(Querist) 06 March 2010
This query is : Resolved
there is case where there was a blank transfer of equity shares from a transferor to transferee in 1998 trough a sebi-registered broker, with witness signature. However, the transferee had forgotten to register the shares in his name with the company's registrar. In 2004, the transferor placed a false complaint with the registrar that he had lost the shares and obtained duplicate share certificates and dematerialised the same.
the transferee is still in the possession of share certificates and signed and stamped transfer deeds and some communication from original transferor and also a purchase certificate from the intermediary broker.
can the transferee go to the court and sustain his case and get the shares back.
Heaven 2011
(Expert) 19 March 2010
Sir,
As you have stated that the transferree has forgotten to register the shares in his name with the registrar, then with regard to the particular shares he is not the right owner and automatically shall not have any legal right to take legal action.
