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Showing contexts for: Share invocation in Gtl Limited vs Ifci Ltd. & Ors. on 29 August, 2011Matching Fragments
23. The plaintiff has referred to the decisions i.e. Nabha Investment Pvt. Ltd. vs. Harmishan Dass Lukhmi Dass, 58(1995) DLT 285; M/s. A.E.C. Enterprises Ltd. & Ors. vs. M/s. Peacock Chemicals Pvt. Ltd. 7 Ors., 75(1998) DLT 484; Official Assignee vs. Madholal Sindhu, AIR 1947 Bom 217.
24. The case of the plaintiff is that after becoming owner of the share, the sale of the same to third parties is illegal, as defendant No.1 could not claim ownership of shares without providing accounts, since the invocation of pledge qua the plaintiff is only arising out of the Guarantee provided by it in the capacity of a surety and not as a debtor.