Jsw Steel Ltd v. Urmil Popli & ORS

$~81 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CM(M) 1097/2018 JSW STEEL LTD ..... Petitioner Through : Mr.D.C.Mishra and Ms.Pallavi Dubey, Advocates.

versus URMIL POPLI & ORS ..... Respondents Through : Mr.Aman Leekha, Advocate.

CORAM:

HON'BLE MR. JUSTICE YOGESH KHANNA

O R D E R

% 28.11.2018 CM APPL.49630/2018 Respondent No.1 moved this application for early hearing. The learned counsel for the petitioner has no objection to the relief sought in the application.

In view of the reasons explained in the application and statement of the learned counsel for petitioner, the application stands allowed. The matter is being taken up today itself. The application stands disposed of.

CM APPL.41475/2018 In view of order in CM APPL No.49630/2018, this application becomes infructuous and stands disposed of.

CM(M) 1097/2018 & CM No.37542/2018 Vide the impugned order dated 01.08.2018, the learned Trial Court has directed the respondent to process of the claim of the petitioner and has rather refrained from issuing the Succession Certificate, as prayed for by the respondent herein.

The learned counsel for the petitioner has referred to Annexure A attached to the petition which is a circular dated 15.09.2016 issued by the Securities Exchange Board of India relating to 'Documentary requirement for securities held in physical mode' and Rule 2(c) thereof notes:- "2. For securities held in single name without a nominee, the following additional documents may be sought:

a) xxx b) xxx c) For value of securities more than ` 2,00,000 (Rupees Two lakh only) per issuer company as on the date of application: Succession certificate or probate of will or will or letter of administration or court decree, as may be applicable in terms of Indian Succession Act, 1925."

The learned counsel for the respondent has also pointed out to an email dated 19.10.2018 (page No.24 of the application) received from M/s Karvy - depository of the shares, wherein they have asked for a succession certificate if the value of the shares is Rs.2.00 lacs or above, as it is mandatory.

In the circumstances, the impugned order dated 01.08.2018 passed by the learned Trial Court is set aside and the learned Trial Court is directed to examine the matter and proceed to deal with application of grant of succession certificate, as per law. The petition stands disposed of. No order as to costs. The earlier date fixed i.e. 18.12.2018 stands cancelled. YOGESH KHANNA, J.

NOVEMBER 28, 2018 M