in said suit the x , limited company , broker through whom you purchased and broker who alleges shares lost are formal proper and necessary parties to the suit . intervening brokers not necessary parties
Title over shares of joint stock company
1)x purchases shares of a listed company through sebi regd.stock broker through market mechanism bonafide for law ful cosideration, lodges the duly completed documents with the company for registration of transfer,2)a stock broker alleges the same shares purchased by him earlier lost-(share certificates and signed tranfer deeds by transferer only) informs company to stop transfer. police complaint made. no court order restraining the transfer.five delivering brokers involved between X AND the said broker. suit before the court filed by broker. question: Title of X over the shares question: Intervening delivering brokers necessary party to the suit or not
Asked 10 years ago in Property Law
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2 Answers
transaction in 1996-97
Asked 10 years ago
The X company, broker through whom shares were purchased and the one whose shares are lost are necessary parties, whereas the intervening brokers are not necessary parties.
