Share transfer
VENKATESH BHAT
(Querist) 14 December 2013
This query is : Open
Sir, I bought 1000NOs of shares of Shree Renuka Sugars from a Party and sent to transfer the shares to Kary (R&Tagent) and the shares got transferred in Dec 2008 and same were sold by me through broker by dematerlising the shares. In Jan2009 Some ONe person to my house informed me, that you have transferred my fathers shares without intimating to my father. I have neglected that person assuming that he is not genuine person. But in Dec I have been by POlice people to provide the details that how u have got transferred the shares. Entire procedure & my bank statement has given to poice people showing the amount transferred to the party and explained the procedure how i got the shares transferred. IN the meantime I found that shares, who sold to me were not genuine persons and found that I have been trapped. IN 2010 june original share holder have lodged private complaint through, bookder fir against me. After so many interogation Police people have found that shares were stolen from company office and were fabricated the documents. IN this case police people have arrested 5 people (expect me)and were released on bail. In this dealing I have purchased share only if the shares were not genuine, the company people or R&t agents will reject the share transfer. But in this case I have been unncecessarily trapped & accused. Even police people also found I am not the guilty & I have been assured that we will not arrest you will considr you as official witness. But that was not happen. In this case I found R&t agent have not sent the Seller NOtice copy to the original share holder. 2. One the renuka sugars staff(now he ex-staff) was involved. 3. Shares certificates were not sent to the original share holder. I request you KINdly inform me how I have to defend myself. one drawback is on my side is I have the duplicate share holder to a bank and helped to him open a bank account.The case is going. and still charge sheet in filed by the court.
Rohan Pradhan
(Expert) 14 December 2013
You can defend yourself by submitting the copy of share transfer deed and copy of bill against purchase of shares from broker which you must have got at the time of purchase. R&TA will transfer the shares in your name only if you provide the original share certificate along with duly executed share transfer deed to R&TA for transfer in your name. R&TA will authenticate the signature of the seller from their records and transfer the share if he found every thing in order. It is clear that the shares will not be transferred if it is not submitted with duly executed share transfer deed. You can state that the dispute is between seller, R&TA and company employees and you are only the victim of their fraud.
Rohan Pradhan
(Expert) 14 December 2013
1. Submit the copy of broker note, copy of duly executed share transfer deed (through which the shares were transferred in your name).
2. Share transfer deed must be having the signature of the share holder and R&TA should have authenticated the signature before transferring the shares.
3. The fraud is on the part of Shareholder, Broker, R&TA and company employees.
Guest
(Expert) 14 December 2013
Depends upon whether purchase of shares by you is supported by any invoice issued to you by the slling party or not.
T. Kalaiselvan, Advocate
(Expert) 14 December 2013
Do you have the transaction details of the purchase of the said shares of that time?, If so, preserve them and produce them as your side evidence during trial of the case in the court. Also make sure that the broker who sold you the shares is being questioned by your lawyer during trial with regard to this particular transaction and emphasis made on the same.
Guest
(Expert) 15 December 2013
Dear Experts,Normally in the Phycical Share Transfers no recipt will be given.Only the Share Certificates and Transfer deed form would be exchanged for money Expert Mr.Rohan Pradhan had guided correctly and moreover when they claim that certificates were stplen from company why the company had not initiated the police complaint .If the query sends a letter explaining all this and the contents of Mr.Rohan to the company warning them that he will take up the matter to SEBI the company would sort it out amickably.Only for these sort of issues sebi is compelling all the shares to be in Demat form.
Rohan Pradhan
(Expert) 16 December 2013
you can lodge your online complaint on SCORES (SEBI.
VENKATESH BHAT
(Querist) 10 August 2022
Thanks for your valuable guidance. Now the case is still running and till today no charges were framed. In between one thing I wish to bring ur notice other 5 accused are not attending regularly. Also another thing is that complainant also deceased in the year 2018. Till today I am simply attending the court and no further development. Is there any solution for this where I can be acquitted
