Shares wrongfully taken
Ravneet kaur
(Querist) 04 November 2016
This query is : Resolved
Sir I went to goa for vacation and played casino there. I Consumed alcohol and took money on credit from the money lender of casino and gave him security of my majority shares of my company. I lost my money in the game. And he sold my shares to other company.
Should I ask for permanent injunction even my contract is void.
Guest
(Expert) 04 November 2016
What was your contract agreement, which you term as void? Please reproduce the extract of the contract here on this page for arriving at some purposeful opinion
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Guest
(Expert) 05 November 2016
You cannot say shares wrongly taken when delivered voluntarily in lieu of money taken.
Kumar Doab
(Expert) 05 November 2016
You have borrowed, deposited security, and signed agreement.
Show the said agreement, and sale of shares and any other input that you might have to a very able counsel for a considered opinion.
Kumar Doab
(Expert) 05 November 2016
Was the value of shares sold more than amount borrowed by you?
Rajendra K Goyal
(Expert) 05 November 2016
you have borrowed, you must have not mentioned that you are borrowing for any illegal activity. If you do not pay, lender is justified in disposing your security.
However, you may discuss with some senior lawyer to find out any technical lacuna / scope in your favor.
Ravneet kaur
(Querist) 05 November 2016
I was under the influence of alcohol that's why it is void. And shares amounted to 16 lakh majority of shares.
Ravneet kaur
(Querist) 05 November 2016
But sir in Goa gambling is legal.
Guest
(Expert) 06 November 2016
If you handed over your shares in a casino of Goa, were you always carrying your shares along with you, wherever you used to go?
Guest
(Expert) 06 November 2016
Also what was the physical count of share certificates of 16 lakhs?
Kumar Doab
(Expert) 06 November 2016
Do you have copy of the agreement?
Have you shown it your own able and senior counsel?
Has your counsel pointed any defects that go in your favor!
Dr J C Vashista
(Expert) 07 November 2016
As the name reveal the author is a lady.
She has stated to have played casino in Goa and stated the game as legal and valid.
Visiting Goa, playing casino without carrying cash and carrying shares???
A hypothetical story.
