Delhi District Court
Sh. Rajeev Singhal vs State on 22 July, 2023
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IN THE COURT OF MS. NIHARIKA KUMAR SHARMA
ACJ-CUM-CCJ-CUM-ARC (NORTH), ROHINI COURT, DELHI
____________________________________________________________________
SCC No. 88/17
In the matter of :
Sh. Rajeev Singhal,
S/o Late Sh. Jagat Prakash Gupta,
R/o 188-A, Old Gupta Colony,
Vijay Nagar, Delhi - 110009
....Petitioner
Versus
1. State
2. Mrs. Prakash Vati Gupta,
W/o Late Sh. Jagat Prakash Gupta,
R/o 188-A, Old Gupta Colony,
Vijay Nagar, Delhi - 110009
3. Sh. Ravindra Kumar Gupta,
S/o Late Sh. Jagat Prakash Gupta,
R/o 188-A, Old Gupta Colony,
Vijay Nagar, Delhi - 110009
4. Smt. Anita Bansal,
D/o Late Sh. Jagat Prakash Gupta,
W/o Sh. Krishan Mohan Bansal,
R/o 222, Celestial Heights,
Plot No. 1-A, Aarti Society,
Sector -2, Dwarka,
New Delhi - 110075.
SCC No. 88/17 Rajeev Singhal Vs. State And Ors. Page No. 1/6
5. Smt. Sunita Garg,
D/o Late Sh. Jagat Prakash Gupta,
W/o Sh. Rajeev Kumar Garg,
R/o 67, Samrat Enclave,
Delhi - 110034. .........Respondents
Date of Institution : 10.10.2017
Date reserve for order : 13.01.2023
Date of pronouncement of judgment : 22.07.2023
JUDGMENT
1. The present petition has been filed u/s 372 of Indian Succession Act, 1925 for grant of succession certificate in respect of the "debts & securities', shares etc. of Late Sh. Jagat Prakash Gupta lying in the form of shares of different companies as well as other consequences relief as per law in the name of the deceased (hereinafter referred to as "deceased").
2. In the petition, it is stated that the petitioner, respondent no. 2 to 5 are the legal heirs of the deceased. Death certificate of Sh. Jagat Prakash Gupta is exhibited as Ex. PW1/3.
3. General public was informed by way of publication in a newspaper namely "Veer Arjun" dated 12.05.2022. However, despite publication, no one from general public has come forward to file objections for the issuance of succession certificate in favour of the petitioner.
4. Notice was issued to SDM, Alipur, Delhi to file the verification report as to the LRs of the deceased. Statement of Sh. Vikrant, CDV, SDM Office, Alipur, SCC No. 88/17 Rajeev Singhal Vs. State And Ors. Page No. 2/6 Delhi is recorded separately. He has filed LRs reports of Late Sh. Prakash Chandra Jain @ P. C. Jain and Smt. Pushpa Lata Jain which are exhibited as Ex RW1/1. As per LR reports, the deceased had left behind three legal heirs namely Smt. Anju Jain (daughter), Sh. Vijay Kumar Jain (son) and Sh. Sanjay Jain (son). They all are class - I legal heirs of the deceased.
5. During final arguments, it was submitted by the counsel for the petitioner that in the list of assets, several companies are stated as the assets however, the share certificate is required only with respect to the companies for which the evidence is lead by the petitioner and the other witnesses have come before the court along with the record.
6. Petitioner namely Sh. Rajeev Singhal, S/o Late Sh. Jagat Prakash Gupta has tendered his evidence by way of affidavit, which is Ex. PW1/A. He relied upon the following documents -
S. No. Description of documents Exhibit Nos.
1. Photocopy of aadhar card of petitioner Ex. PW1/1
2. Photocopy of PAN Card of PW1/2 is de-exhibited Mark A
3. Death certificate of Late Sh. Jagat Prakash Gupta PW1/3 Copy of election ID card of Late Sh. Jagat Prakash
4. Mark A-1 Gupta
5. Share certificate are exhibited as Ex. PW1/5 Ex. PW1/5 (colly) (nineteen different companies, collectively) 90 shares of M/S HB Leasing & Finance Co. Ltd.
Certificate No. 122138 (50 shares), SCC No. 88/17 Rajeev Singhal Vs. State And Ors. Page No. 3/6 Certificate No. 069727 (10 shares) Certificate No. 069726 (10 shares) Certificate No. 069725 (10 shares) Certificate No. 069724 (10 shares) (Share Certificate No. 172139, 172140 & 172141 having 10 shares each of M/S HB Leasing & Finance Co. Ltd. are not being pressed)
7. Respondent no. 2 to 5 have given their no objection if the succession certificate for the assets, debts and securities as alleged in the present case be issued in the name of the petitioner. Photocopies of their aadhar card is on record.
8. Statement of Sh. Rohit Bhardwaj, S/o Sh. Pramod Bhardwaj, Authorized Signatory, Cheviot Company Ltd., Office at - 24, Park Street, Magma House, 9 th Floor, Kolkata - 700016 is recorded. He has filed the statement of account under Folio No. J00151 in the name of Late Sh. Jagat Prakash Gupta. As per statement, the number of shares held by Sh. Jagat Prakash Gupta is 350 equity shares having face value of Rs. 10 each issued vide share certificate No.18405, 18406 and 23464 and distinctive no. 2605000, 2605100 and 4539547.
9. Statement of Sh. Binod Kumar Yadav, S/o Sh. Brij Narayan Yadav, Authorized Signatory, The welcure Drugs & Pharmaceuticals Limited, Registered Office - B-9 & 10, Laxmi Tower, L. S. C. Block - C, Saraswati Vihar, Delhi - 110034 is recorded. He has filed the statement of account under Folio No. 0005512 in the name of deceased Sh. Jagat Prakash Gupta. As per statement, the number of SCC No. 88/17 Rajeev Singhal Vs. State And Ors. Page No. 4/6 shares held by deceased is 300 equity shares having face value of Rs. 10 each, issued vide share certificate no. 15328, 98175 & 98176. Same is Ex. PW3/1.
10. Statement of Sh. Shilender Kumar Pathak, Assistant Manager, MCS Share Transfer Agent Ltd. is recorded. He has filed the statement of share account held in the name of Late Sh. Jagat Prakash Gupta and as per report total 2520 shares of Kajaria Ceramics Ltd. bearing certificate No. 2058 and distinctive No. 158431781
- 158434300. Same is Ex. PW2/A (colly).
11. Statement of Sh. Sunil Dogra, Legal Representative, The Motor General, Finance Ltd. MGF House, Asaf Ali Road, New Delhi - 110002 is recorded. He has filed the report on behalf of Vice President & Company Secretary and as per report initially 94 shares of face value of Rs. 10/- per equity share of the Motor & General Finance Ltd. were in the name of Late Sh. Jagat Prakash Gupta, however, consequently split not shares now total 188 shares of face value of Rs. 5/- per share is in the name of Late Sh. Jagat Prakash Gupta (Share Certificate No. 1416 with Distinctive No. 309373 to 309560). Report is Ex. PW3/A.
12. Statement of Sh. Pawan Kumar Bhanwal, S/o Sh. Dhani Ram, AR of Alankit Assignment Ltd., Alankit House, 4E/2, Jhandewalan Extension, New Delhi - 110055, which is holding the shares of State Bank of India is recorded as PW4. He has brought the statement of account of Folio No. 02077242 in the name of Late Sh. Jagat Prakash Gupta. As per statement of account the number of shares held by Sh. Jagat Prakash Gupta is 500 equity shares having face Value of Rs. 1 each, issued vide share certificate no. 000171374 under Folio No. 02077242 bearing distinctive no. 7432602311 to 7432602810. Report filed is Ex. PW4/1.
13. Petitioner is entitled for the (1) 350 equity shares having face value of Rs. 10 each issued vide share certificate No.18405, 18406 and 23464 and distinctive SCC No. 88/17 Rajeev Singhal Vs. State And Ors. Page No. 5/6 no. 2605000, 2605100 and 4539547 Folio No. J00151 lying with the Cheviot Company Ltd., (2) 300 equity shares having face value of Rs. 10 each, issued vide share certificate no. 15328, 98175 & 98176 Folio No. 0005512 lying with The welcure Drugs & Pharmaceuticals Limited, (3) 2520 shares bearing certificate No. 2058 and distinctive No. 158431781 - 158434300 lying with Kajaria Ceramics Ltd., (4) 188 shares of face value of Rs. 5/- per share (Share Certificate No. 1416 with Distinctive No. 309373 to 309560) lying with The Motor General, Finance Ltd. and (5) 500 equity shares having face Value of Rs. 1 each, issued vide share certificate no. 000171374 under Folio No. 02077242 bearing distinctive no. 7432602311 to 7432602810 lying with Alankit Assignment Ltd. as well as other consequences relief as per law alongwith interest, if any in the name of the Late Sh. Jagat Prakash Gupta.
14. The value of each shares for the purpose of Court fee be calculated as per present value of the abovesaid shares / debentures in Stock Exchange (s) on the day of this order in the name of deceased. Petitioner is directed to file Court fee at the rate of 2.5% for the whole amount in terms of Article 12 Schedule 1 of the Court Fees Act, 1870 as applicable to Delhi and an indemnity bond with one surety of the like amount.
File be consigned to Record-Room after due compliance.
Announced in the open court on (NIHARIKA KUMAR SHARMA ) ACJ-CUM-CCJ-CUM-ARC (NORTH) ROHINI COURT, DELHI SCC No. 88/17 Rajeev Singhal Vs. State And Ors. Page No. 6/6