Delhi District Court
Ms. Mukta Sharma vs State on 10 May, 2019
: IN THE COURT OF SACHIN SANGWAN
ADDITIONAL RENT CONTROLLER (SOUTH):
COURT ROOM NO. 204, SAKET COURTS: NEW DELHI
SUCCESSION CASE NO. 10/2018
Ms. Mukta Sharma
W/o Sh. Rajat Lodha
R/o 840, 3rd Floor, Near Shiv Mandir,
Chirag Delhi, New Delhi17
......... Petitioner
Vs.
State
............Respondent
Application for grant of Succession Certificate U/S 372 of
Indian Succession Act, 1925.
DATE OF INSTITUTION : 22.01.2018
DATE OF RESERVING ORDER : 25.04.2019
DATE OF PRONOUNCEMENT : 10.05.2019
JUDGMENT
1. Vide this judgment, I shall dispose off the petition filed by the petitioner Ms. Mukta Sharma for the grant of a succession certificate under section 372 of the Indian Succession Act, 1925 (hereinafter referred to as 'the Act') in respect to debt/securities etc., of Late Sh. Har Kishan Lal Sharma @ Shri H K Sharma.
2. The facts relevant for the disposal of the present petition are that Late Sh. Har Kishan Lal Sharma @ Shri H K Sharma, father of the petitioner, expired on 15.03.2011. It has been stated that deceased was ordinarily residing at C25, 2nd Floor, Chirag Enclave, New Delhi. It has further been Succession No. 10/2018 Ms. Mukta Sharma Vs State Page 1/7 stated that applicant/petitioner is daughter and natural legal heir of deceased besides three sisters namely Ms. Poonam Raghuvanshi, Ms. Sunita Nagpal and Ms. Suman Sharma, who have given their respective no objection certificates in favour of petitioner.
3. It has further been stated that deceased was having debts and securities as per Annexure E supported with Sheet X, filed alongwith the petition, details of which is given below : S No. Asset Name of Company No. of Total value as shares on 15.01.2018 2 Demat Account held Calcom Vision Ltd 100 983/-
with HDFC Bank Castex Technologies Ltd 5000 25800/- bearing Account No.15814548 Den Networks Ltd 480 44208/-
Hotel Leela Venture Ltd 3000 58350/-
ICICI Bank Ltd 500 158950/-
Mangalore Refinery and 200 24060/-
Petrochemicals Ltd
Mirc Electronics Ltd 26 934.7/-
Oil India Ltd 189 66783.15/-
Punjab Chem and Crop 7 2744/-
Protection Ltd
Reliance Infrastructure Ltd 100 43240/-
Sterlite Power Transmission 100 200/-
Ltd
Sterlite Technologies Ltd 500 131525/-
Tata Chemicals Ltd 30 21234/-
Total 5,79,011.85/-
S No. Asset Held at Account No. Value in (Rs.)
1 HSBC Mutual Fund HSBC 532589431 67,62,385.31
3 Saving Account Syndicate Bank 90032010000624 2,87,579.89
4 Tata Infrastructure HDFC/CAMS 1007221/81 5,92,364.14
Fund
5 Physical share BPL Electronics Ltd BP16097 100.4 per share
certificate of 100 16089 as on 15.01.18
shares (folio no.)
6 Physical share MIRC Electronics 50383 5065 per share
Succession No. 10/2018 Ms. Mukta Sharma Vs State Page 2/7
certificate of 11 Limited (folio no.) as on 15.01.18
shares
7 Physical share Jindal Vijaya Nagar JSW0303247 251.30 per share
certificate of 8 shares Steel Ltd (folio no.) as on 15.01.18
8 Physical share Sterlite Industries H21460 297.95 per share
certificate of 100 (India) Ltd (folio no.) as on 15.01.18
shares
4. It is stated that Smt. Kamla Sharma, mother of the petitioner, expired on 14.03.2015. As per petitioner, there is no impediment under the provision of the Act in the grant of succession certificate in her favour.
5. A notice of the petition was published in the daily newspapers ''The Statesman and Veer Arjun" on 10.02.2018 and 13.02.2018 respectively inviting objections on behalf of general public to the grant of succession certificate in favour of the applicant / petitioner, but none had appeared on behalf of the public at large on the day of hearing fixed to contest / oppose or raise any objection to the grant of the succession certificate in favour of the applicant / petitioner.
6. On 28.05.2018, report was filed by Mr Arun Singh, PSE, HSBC Bank alongwith statement of transaction. As per same, it is confirmed that deceased Mr Harkishan Lal Sharma was maintaining mutual fund account, details of which are given below : Client code Customer ID Account Type Account Opened date Account Status 0532589431 053258943 Mutual Fund 22 May 2008 Active
7. Further, on 02.08.2018, Mr. Anil Kumar Chawla, Clerk, Syndicate Bank, Chandni Chowk Branch appeared before the court and filed statement of saving bank account no.90032010000624 in the name of Hari Kishan Lal Sharma and the total amount lying balance in the said account is Rs.2,95,210.08 as on 31.07.2018. Account statement is Ex.P4.
Succession No. 10/2018 Ms. Mukta Sharma Vs State Page 3/78. Mr Vikas Singh, Deputy Manager, HDFC Bank Ltd, LSC, Masjid Moth had also appeared on 02.08.2018 and filed statement of DP account no.15814548 in the name of Har Kishan Lal Sharma and the total value of shares lying in demat account is Rs.5,04,817.80/ as on 04.07.2018. Account statement is Ex.P3.
9. Mr. Pryadarshan Waila, Team Member MGT2, Link Intime Pvt Ltd, Naraina Industrial Area Phase1 had also appeared on 02.08.2018 and filed a report regarding 11 shares of Mirc Electronics Limited having certificate no.9833 and distinctive no. 140578743 140578753, which were transferred to IEPF (Investor Education and Protection Fund) account in the absence of unclaimed benefits of the shareholder. It is stated therein that they will comply with the orders of the court. Report is Ex.P7.
10. Thereafter, CA valuation report dated 16.03.2018 was filed on behalf of petitioner qua value of assets held by deceased Mr Har Kishan Lal Sharma, details of which are given below : A. Investment in Mutual Funds S. No Mutual Fund Account No. Held at Value (Rs.) 1 HDFC / Reliance Mutual 532589431 HSBC 64,87,648.88/-
Fund 2 Tata Infrastructure Fund 1007221/81 DHFC/CAMS 5,71,941.25/-
B. Investment in listed company shares - held in demat account with HDFC Ltd.
S. No Name Account No. Held at Value (Rs.)
1 Listed shares in Demat 15814548 HDFC 6,10,132.20/-
Account
C. Balance in Saving Account - with Syndicate Bank Chandni Chowk Branch Succession No. 10/2018 Ms. Mukta Sharma Vs State Page 4/7 S. No Account Account No. Held at Value (Rs.) 1 Saving Account 90032010000 Syndicate 2,87,579.89/-
624 Bank D. Investment in shares - not held in demat account (physical share certificates available) S. No Company name / Folio No. / Distinctive Value (Rs.) Certificate no. no. of shares No. 1 BPL Electronics Ltd / BP16097 2023831- Not available 32187 16089 / 50 2023880 2 BPL Electronics Ltd / BP16097 2023881- Not available 32188 16089 / 50 2023930 3 Mirc Electronics Ltd. / 50383 140575743 - 546.7/-
9833 /11 140578753
4 Jindal Vijayanagar Steel JSW0303247 2001451543- 2349.2/-
Ltd (now known as JSW /8 2001451550
Steel Ltd) / 303336
5 Sterlite Industries (India) H21460 / 100 32580706 - 18,747/-
Ltd. / 885469 32580805
11. The petitioner was examined as PW1 who deposed on the lines of the facts as averred in her petition. She had relied upon the following documents:
a) death certificate of deceased Mr. H K Sharma as Ex.PW1/A
b) records of mutual fund as Ex.PW1/B
c) copy of demat account record as Mark A
d) copy of statement of Syndicate Bank as Mark B
e) copy of record of mutual fund of Tata Infrastructure Fund as Ex.PW1/E (OSR)
e) copy of physical share certificate of BPL Electronics Ltd as Ex.PW1/F (colly) (OSR)
f) copy of physical share certificate of MIRC Electronics Ltd as Ex.PW1/G (OSR)
g) copy of physical share certificate of Jindal Vijaynagar Steel Ltd as Ex.PW1/H (OSR)
h) copy of physical share certificate of Sterlite Industries (India) Succession No. 10/2018 Ms. Mukta Sharma Vs State Page 5/7 Ltd as Ex.PW1/I (OSR)
i) copy of passport of deponent as Ex.PW1/J (OSR)
12. Thereafter, PE was closed and final arguments were heard.
13. Further, on 28.05.2018, Ms Sunita Nagpal and Ms Suman Sharma, the LRs of deceased have got recorded their joint statement stating therein that they have no objection if the succession certificate qua debts and securities in the name of deceased is issued in favour of petitioner. They have exhibited their respective aadhar card as Ex.P1 & Ex.P2. Further on 02.08.2018, Subhash Nagpal, General Power of Attorney of Ms. Poonam Raghuvanshi (daughter of deceased) had appeared and got recorded his statement on behalf of Ms Poonam Raghuvanshi stating therein that she has no objection if the succession certificate qua debts and security of her deceased father is issued in favour of petitioner. He exhibited the copy of General Power of Attorney as Ex.P5 and his driving license as Ex.P6.
14. The aforesaid claim of the petitioner have gone unrebutted and nobody appeared on behalf of public at large to contest the aforesaid claim of the petitioner. There is also no impediment U/S 370 of the Act to grant of Succession Certificate with respect to debts/securities as mentioned above. Therefore, I deem it fit to allow the petition. Accordingly, the petition is hereby allowed.
15. In view of above, I hold that the petitioner Ms. Mukta Sharma, W/o Sh Rajat Lodha, D/o Sh. Har Kishan Lal Sharma @ Shri H K Sharma is entitled for the grant of Succession Certificate U/S 372 of the Act in respect of debts and securities of the deceased Harkishan Lal Sharma @ Shri H. K. Sharma. It is however, clarified that rights and interest of legal heirs of deceased late Sh. Har Kishan Lal Sharma @ Shri H K Sharma, are not decided vide this order which is confined to issuance of succession certificate Succession No. 10/2018 Ms. Mukta Sharma Vs State Page 6/7 only.
16. Accordingly, Succession Certificate be issued to Ms. Mukta Sharma, W/o Sh Rajat Lodha, D/o Sh. Har Kishan Lal Sharma @ Shri H K Sharma on filing of court fee as prescribed in terms of Article 12 Schedule 1 of the court fee Act 1870 as applicable to Delhi and an Indemnity Bond with one surety in the like amount for the value of debts and securities as detailed herein above.
17. File be consigned to Record Room after completion of necessary formalities. SACHIN Digitally signed by SACHIN SANGWAN SANGWAN Date: 2019.05.10 15:53:10 +0530 Announced in the open court (Sachin Sangwan) on 10.05.2019 Administrative Civil Judgecum Additional Rent Controllercum Commercial Civil Judge: (South):
Saket District Courts: New Delhi Succession No. 10/2018 Ms. Mukta Sharma Vs State Page 7/7