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Arpan Shah (Partner)     29 August 2009

Time Barred

My Tata Power Shares were stolen from Post Office. A company called 'Nagarjuna Securities' approached me with transfer deed & asked me to sign them since my signature differed. Obviously, since I had not sold the shares & he had bought them from a con broker. I refused & I requested Tata Power to isse me duplicate shares. Nagarjuna Securities brought a 'STAY' on Tata Power against issuing duplicate shares to me. Tata Power refuses to issue me duplicate shares & has asked me to vacate the stay. I filed a case against Tata Power 4 years later making Nagarjuna Securities as one of the respondent. Nagarjuna Securities now does not exist & cannot be located. Tata Power is fighting against me saying the case is time barred. Even they know that I am the rightful owner. Hearing is scheduled for 2-9-09. Can the judge apply the time barred arguement. All other evidences are in my favour.

 



 3 Replies

A V Vishal (Advocate)     29 August 2009

Arpan

Even if you have evidences (which obviously u and ur advocate only know), let me ask a very simple question. You claim that the shares were stolen, in that case what action was initiated at your end, (1) did you file a police complaint about the missing share certificates and receive a FIR (2) did you intimate the company about the loss along with the copy of the FIR.  (3) what were the reasons to file a case after 4 yrs.

The replies from you can only lead us to answer your query

Arpan Shah (Partner)     30 August 2009

Dear Sir,

1> I filed an FIR & recieved a copy.2> Tata Company was intimated about the loss.3> Reasons for filing case after long time are as below. At that time out of the 2590 shares being stolen, Tata Power issued 1490 duplicate shares to me as there were no claimant to these 1490 shares. The rest 1100 shares were not issued because of stay from Nagarjuna. The value of the 1100 shares at that time was low so it did not appeal me to file a suit & thus bear further litigation costs. Subsequently I approached various Investor Protection Groups, SEBI etc & also met Tata Power officials. Finally in 2002, I understood the need to file a suit & thus did the same in 2002. Tata Power immediately responded saying it was time barred. Can the judge now apply the time barred arguement in this scenario ?

 

Arpan Shah (Partner)     30 August 2009

I have the copy of latest order/judgment from the judge. Kindly study the same & reply. This outcome of the case is really causing a lot of anxiety & disturbance. Request you to shed some legal opinions on the same.

Thanks


Attached File : 44 s140202060709.pdf downloaded: 122 times

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