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     "                          No.1/28/Nagoa/2009-2010/530
                                          Office of the dministrator of
                                          Comunidades South Zone,
                                           Margao.

                                              Dated: 12/11/2009.

With reference to your application dated 13/01/2008 for requesting to publish the list of share holders in the Official Gazette for having not claimed the dividends for past 30 years and that the shares stand lost in favour of the Comunidade as per rt.438 of the Code of Comunidades, I have come to a conclusion as under:

From the records of this Office it is seen that as per records submitted by the Comunidade of Nagoa a list was published in Official Gazette, Series III on 2/05/2008 and as there was some discrepancies in respect of the numbers of shares a corrigendum was published in the Official Gazette, Series III on 24/09/2009.
Page 2 of 10
17th December, 2025 263 WP 200-2013 Further this Office directed the Escrivao of Nagoa Comunidade to submit the udget books pertaining to past years inorder to verify the net income of the Comunidade and also to know whether the dividends were declared by the said Comunidade regularly every year.
The application dt. 13/01/2008 filed by the President of Comunidade of Nagoa vide its letter No.98, alongwith the list submitted by the Escrivao of the share holders who have not collected the dividends for last 30 years is hereby rejected, since the same does not fit into criteria laid under rt.438 of Code of Comunidades.
(Shri. Prashant P. Shirodkar) dministrator of Comunidades of South Zone, Margao.
9. The rival contents now fall for determination.
10. Since the Petitioner's case is based on Article 438 of the Code, the same is transcribed below for convenience of reference:
"Art. 438 - The comunidade acquires shares of the Comunidade by prescription if the dividends are not claimed for thirty consecutive years.
Sole ยง On expiry of this period, the administrator, having complied with the formalities prescribed in paragraph 1 of article 25, shall order their registration in favour of the comunidade, when there is no complaint, or when the claimer, having been advised to take up ordinary means, fails to initiate competent action within thirty days, with service of summons on the comunidade, in order to establish ownership."