Delhi District Court
Sh. Sunil Madan vs State Of Nct Of Delhi on 5 November, 2022
IN THE COURT OF MS. RICHA SHARMA, ADMINISTRATIVE
CIVIL JUDGE-cum-COMMERCIAL CIVIL JUDGE-cum-
ADDITIONAL RENT CONTROLLER: NORTH-WEST DISTRICT:
ROHINI DISTRICT COURTS: DELHI
Succession Petition No. 35/21
CNR No. DLNW030005082021
Date of Institution : 25.02.2021
Date of Final Arguments : 27.10.2022
Date of Judgment : 05.11.2022
Final Order : Petition allowed.
In the matter of:
Sh. Sunil Madan,
S/o Late Shri Parkash Chand Madan,
R/o G-21/72-73, Sector-7,
Rohini, Delhi-1110085.
....................Petitioner
VERSUS
1. State of NCT of Delhi.
2. Mrs. Neelam Mitra,
W/o Dr. Ramesh Mitra,
R/o C-1/29-30, 3rd Floor,
Malkaganj, Delhi-110007.
3. Vinod Kumari,
W/o Varinder Khunger,
R/o B-90, Second Floor Ardee City,
Sector-52, Gurgaon-122011.
4. Seema Mehta,
W/o Rajesh Mehta,
R/o D-1/2, Gurudwara East Uttam Nagar,
West Delhi-110059.
5. Titan Company Limited, Digitally signed
by RICHA
Having registered office at: RICHA SHARMA
SHARMA Date:
2022.11.05
SCC No 35/2021 Page No. 1/8 16:16:18 +0530
Sunil Madan V/s State and Ors.
'Integrity'
193, Veerasandra,
Electronics City P.O.,
Off. Hosur Main Road,
Bangalore 560100. ..........Respondents
JUDGMENT ON PETITION UNDER SECTION 372 OF THE INDIAN SUCCESSION ACT
1. The present petition has been filed by the petitioner under Section 372 of Indian Succession Act, 1925, seeking issuance of succession certificate in respect of debts/securities etc., left by Late Sh. Parkash Chand Madan (hereinafter referred to as 'deceased') i.e. 6840 shares of Titan Company Limited, under the Folio No. TWP0000988 in the name of the deceased.
2. As per the petition, the petitioner and respondent no. 2 to 4 are the children of the deceased Sh. Parkash Chand Madan, who expired on 14.06.1999, and at that time, he was ordinarily residing at 248, Pocket-D-15, Sector-3, Rohini, Delhi-110085. It is stated, that the wife of deceased Smt. Lila Madan has also expired on 12.02.2008. Succession certificate has been sought in respect of 6840 equity shares of Titan Company Ltd. under Folio No. TWP0000988 with all consequential benefits like dividend etc. in the name of the deceased as per the following table:
Folio No. Certificate No. Distinctive No Holder TWP0000988 0046203 0032886935-944 Parkash Chand Madan TWP0000988 0097537 0041619141-9144 Parkash Chand Madan TWP0000988 00066985-986 11447501-7700 Parkash Chand SCC No 35/2021 Page No. 2/8 Digitally signed Sunil Madan V/s State and Ors. RICHA by RICHA SHARMA SHARMA Date: 2022.11.05 16:16:24 +0530 Madan TWP0000988 0014140 0027275643-650 Parkash Chand Madan TWP0000988 0015899 0025087641-660 Parkash Chand Madan
3. It is stated, that the company issued the letter of entitlement through e-mail dated 06.02.2021, for 6840 shares to be claimed from IEPF, alongwith unpaid/ not yet cashed dividend. It is stated, that there is no impediment to the grant of succession certificate under the Succession Act in favour of the petitioner as the remaining LRs of the deceased have given NOC in favour of the petitioner.
4. After filing of present petition, notice was issued and general public was served through publication in daily newspaper 'Veer Arjun', Hindi edition dated 13.04.2021, to invite objections from the public at large to the grant of succession certificate to the petitioner but none appeared from general public to oppose or contest the present petition.
5. A report regarding LRs of deceased has also been received from the office of concerned Tehsildar, Saraswati Vihar, as per which Sunil Madaan (Son), Neelam Mitra (Daughter), Vinod Kumar (Daughter) and Seema Mitra (Daughter) are the legal heirs of the deceased Sh. Parkash Chand Madan and Smt. Leela Madaan.
6. During the summary proceedings conducted as per Section 372 of the Indian Succession Act,1925, three witnesses were examined. Digitally signed by RICHA SHARMA RICHA Date:
SCC No 35/2021 Page No. 3/8 SHARMA 2022.11.05 Sunil Madan V/s State and Ors. 16:16:29 +0530
7. As PW-1 Sh. Sunil Madan i.e. the petitioner tendered his evidence by way of affidavit i.e. Ex. PW1/A. He relied upon the following documents:
S. No. Documents Exhibit
1 Computer generated death certificate of Mark A
Smt. Leela Madan
2 Death certificate of deceased Ex. PW1/2
3 Copy of his Adhar Card Ex. PW1/3
4 Copy of his PAN Card Ex. PW1/4
5 Copy of share certificate (running into 9 Ex. PW1/5
pages)
6 Computer generated print outs of mail Mark B
sent by Titan
7 CA certificate qua valuation of shares Ex. PW1/7
8 Reply dated 05.04.2021 by respondent Ex. PW1/8
No. 5/Titan Company Ltd., regarding
the number of shares i.e. 6840 shares
under the Folio No. TWP0000988 in the
name of Sh. Parkash Chand Madan
9 Reply dated 09.08.2022 by respondent Ex. PW1/9
No. 5/Titan Company Ltd., regarding
the number of shares i.e. 6840 shares
under the Folio No. TWP0000988 in the
name of Sh. Parkash Chand Madan
8. As RW-1 Ms. Neelam Mitra, i.e. respondent no. 2 tendered her NOC/ Affidavit i.e. Ex. RW1/A testifying, that her father Sh.
Parkash Chand Madan did not execute any Will during his lifetime in respect of his assets i.e. 6840 shares of Titan alongwith consequential benefits. She further testified, that there are no other class 1 legal heirs of deceased except the petitioner and respondent no. 2 to 4 as her mother Smt. Leela Madan has already expired in the Digitally signed SCC No 35/2021 Page No. 4/8 by RICHA Sunil Madan V/s State and Ors. RICHA SHARMA SHARMA Date:
2022.11.05 16:16:33 +0530 year 2008. She testified, that she has no objection if the succession certificate is issued in favour of her brother i.e. the petitioner. She also relied upon the copy of her Adhar Card i.e. Ex. RW1/1.
9. As RW-2 Smt. Seema Mehta, tendered her NOC/ Affidavit i.e. Ex. RW2/A. She also tendered the SPA executed by her sister i.e. the respondent no. 3 Vinod Kumari in her favour i.e. Ex. RW2/1 bearing the signatures of her sister at points A, B, C and D and her signatures at point X, Y and Z. She further testified, that her father Sh. Prakash Chand Madan did not execute any Will during his lifetime in respect of his assets i.e. 6840 Shares of Titan alongwith consequential benefits. She further testified, that there is no other Class-I legal heirs of the deceased except the petitioner and respondent no. 2 to 4 as her mother namely Ms. Leela Madan has already expired in the year 2008. She further testified, that she has no objection if succession certificate is issued in favour of the Petitioner Sunil Madan in respect of the asset i.e. 6840 Shares of Titan alongwith consequential benefits. She further testified, that she has also been authorized by her sister/ respondent no. 3 to give NOC in favour of her brother i.e. the petitioner on her behalf. Hence, she testified, that even the respondent no. 3 does not have any objection if her share is released in favour of the petitioner. She also relied upon the copy of her Adhar Card i.e. Ex. RW2/1.
10. Thereafter, PE was closed vide order dated 27.09.2022, and the matter was listed for final arguments.
11. Final arguments were then advanced by Ld. Counsel for Digitally signed by RICHA SCC No 35/2021 Page No. 5/8 RICHA SHARMA Sunil Madan V/s State and Ors.
SHARMA Date:
2022.11.05
16:16:38 +0530
petitioner which have been duly considered with evidence on record.
12. From the material on record i.e. the copy of the death certificate i.e. Ex. PW1/2, it stands proved, that the deceased Sh.
Parkash Chand Madan expired on 14.06.1999, and at that time, he was ordinarily residing at 248, Pocket-D-15, Sector-3, Rohini, Delhi-110085, which confers the territorial jurisdiction upon this court.
13. As per the LR report received from the office of concerned concerned Tehsildar, Saraswati Vihar, it is brought on record, that the deceased left behind Sunil Madaan (Son), Neelam Mitra (Daughter), Vinod Kumar (Daughter) and Seema Mitra (Daughter), as his legal heirs.
14. As per the Reply dated 05.04.2021 i.e. Ex. PW1/8 and dated 09.08.2022 i.e. Ex. PW1/9, received from TSR Consultants Pvt. Ltd., (i.e. the share transfer agents of Titan Company Limited handling the matter pertaining to shares of the said company), it stands proved, that the deceased held 6840 shares of Titan Company Limited, under the Folio No. TWP0000988 in the name of Sh. Parkash Chand Madan and the said shares stands transferred to IEPF demat account since the dividend for seven consecutive years remained outstanding.
15. As per the death certificate, i.e. Mark A, it stands proved, that the wife of the deceased has also expired. The remaining LRs of the deceased i.e. respondent no. 2 to 4 have already given NOC in Digitally signed SCC No 35/2021 Page No. 6/8 by RICHA Sunil Madan V/s State and Ors.
RICHA SHARMA
SHARMA Date:
2022.11.05
16:16:43 +0530
favour of the petitioner. No impediment has been brought on record against grant of Succession Certificate in favour of the petitioner in respect of the assets in question.
16. As per the CA certificate i.e. Ex. PW1/7 filed by the petitioner, it has been brought on record, that the value of one share of Titan Company Limited as on 12.07.2022 is Rs. 2130/-. Accordingly, the value of 6840 shares comes to be Rs. 1,45,69,200/-.
17. Thus, considering, that the petitioner is one of the legal heirs of the deceased, being his son and further considering, that the remaining legal heirs of the deceased i.e. the respondent No. 2 to 4 have already given NOC in favour of the petitioner, the petitioner is held entitled to the succession Certificate, in respect of the 6840 shares of Titan Company Limited, under the Folio No. TWP0000988 in the name of Sh. Parkash Chand Madan amounting to Rs. 1,45,69,200/- alongwith accrued dividends etc., if any.
18. The succession certificate be issued in favour of the petitioner on furnishing of an Indemnity Bond of the same value with one surety of like amount each within one month from today. Petitioner to file court fees in terms of Article 12 Schedule 1 of the Court Fees Act as applicable to Delhi for issuance of succession certificate.
19. It is clarified, that succession certificate shall be considered only as an entitlement of the petitioner to receive the amount due towards Late Sh. Parkash Chand Madan from concerned bank so as to discharge the debtor.
Digitally signed by RICHASCC No 35/2021 Page No. 7/8 RICHA SHARMA Sunil Madan V/s State and Ors. SHARMA Date:
2022.11.05 16:16:48 +0530
20. File be consigned to the record room after completing necessary formalities. Digitally signed by RICHA RICHA SHARMA Announced in the Open Court SHARMA Date:
today i.e. on 05.11.2022. 2022.11.05 16:16:52 +0530 (Richa Sharma) ACJ-cum-CCJ-cum-ARC/North-West District Rohini District Courts/ Delhi SCC No 35/2021 Page No. 8/8 Sunil Madan V/s State and Ors.