Order directing Decree Holder to transfer 7,51,572 shares of IOL Netcom Limited into petitioner's DEMAT account and disposing of the petition.
Direction to transfer 7,51,572 shares of IOL Netcom Ltd to petitioner's DEMAT accounts; petition disposed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
$~4
INDIABULLS FINANCIAL SERVICES LTD
..... Decree Holder Through : Mr.Samer Talwar and Mr.T.Vishnu, Advs. versus
BROADBAND INDIA LTD
..... Judgement Debtor Through : None
CORAM: HON'BLE MR. JUSTICE YOGESH KHANNA O R D E R % 09.02.2018
The learned counsel for the petitioner has referred to order dated 08.03.2017 which runs as under :
“The authorized representative of Religare Securities is present in the court and states that the Religare Securities is not in a position to effect the sale of the shares as the same are not listed, however, Religare Securities will transfer the shares in the Demat account of the persons as may be directed.
The learned counsel for the Decree Holder seeks two weeks time to file an appropriate application for attachment and sale of 751572 shares of IOL Netcom Limited.
List on 20.04.2017.”
It is submitted that Religare Securities has agreed to transfer
the shares in account of persons as may be given by the petitioner.
He has further referred to an order dated 20.04.2017 which runs as under :
Learned counsel for the Decree Holder requests for further time to file the application as indicated in the order dated 08.03.2017.
The Authorised Representative (AR) of Religare Securities Ltd. is present in Court and states that Religare Securities Ltd will abide by the orders as passed by this Court. He also confirms that 7,51,572 shares of IOL NETCOM LTD. are unencumbered and there is no encumbrance marked against those shares.
Let the Decree Holder file an appropriate application for sale of the said shares within a period of one week from today. Further time is granted to the Decree Holder to file the same within one week from today.
In the meanwhile, the said shares lying in the DEMAT account with the Religare Securities Limited stand attached and shall not be dealt with, till further orders.
List on 24.07.2017.
Learned counsel for the petitioner has now given the DEMAT account of NSDL and CDSL, which is as under :
| NSDL | |
|---|---|
| DP ID | IN302236 |
| DPNAME | INDIABULLS VENTURESLTD. |
| CLIENT ID | 11165520 |
CLIENT INDIABULLS HOUSING FINANCE LIMITED NAME
| CDSL | |
|---|---|
| DP ID | 12029900 |
| DPNAME | INDIABULLS VENTURESLTD. |
| CLIENT ID | 00147652 |
| CLIENT NAME |
INDIABULLS HOUSING FINANCE LIMITED. |
Religare Securities/decree holder are now directed to transfer
YOGESH KHANNA, J
FEBRUARY 09, 2018 VLD
1 issue framed by the court
Whether Decree Holder requested to transfer specific shares to petitioner's DEMAT account
Indiabulls Financial Services Ltd
Broadband India Ltd
Yogesh Khanna
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
