Stealing of share certificates from post office and transfer in their names.
Bharat kumar
(Querist) 01 December 2012
This query is : Resolved
Dear sir,
I am a small businessman and do not know much about shares. My 20 shares and 40 shares of my son of Larsen & Toubro, were stolen from the post Office and were got transfered in ones name on 06.06.1994 (18yrs before). Recently I came to know the name and address of the person in whom name the shares were transfered. I never sold it nor I got the money. I requested the company to give me a copy of Transfer deed to check the signatures on it. But Company replied that they will issue the copy of Transfer deed only to the court.
Now the Question is:- Whether I can move to the Court after lapse of 18 years of time and Will the court entertain my request?
Kindly help me before I make up my mind to move the court otherwise I will sit idle. The present cost of shares is Approx Rs 1.0 One Lac Only.
BKB
Guest
(Expert) 01 December 2012
First of all the main question would arise, what did you or your son do during those 18 years to get your certificates if the share certificates were not received by you from the source you were expecting.
Secondly, the question of proof of theft 18 years back from the Post Office would arise, if you can give against the P.O.
Thirdly, the question of limitation would arise, as you could only file case within three years of the applicatiom for allotment/transfer, whatever be the case.
If you have satisfactory reply to these questions, you can go ahead with a court case, but against whom, the Pot Office or the Company?
Bharat kumar
(Querist) 01 December 2012
Sir,
thanks. I want to lodge a case against the buyer in whise name the shares are transfered as he only will tell as from where he got the shares; Whom he has paid if I did not get any payment from him. Company has given me in writing that my shares have been transfered in their name.
sir,
BKB
Guest
(Expert) 01 December 2012
Wish you good luck.
prabhakar singh
(Expert) 01 December 2012
Mr/Dhingra is right.Any suit as to title of shares would now be not entertained by any court as the same has become time barred and plaint shall stand rejected under order 7 rule 11 of the C.P.C.
Even police case of theft can not now proceed
as no F.I.R of the theft was lodged at it's occurrence.
Raj Kumar Makkad
(Expert) 01 December 2012
I have also similar opinion as expressed above.
