Greeting to all members!
We have some litigation going on regarding some shares of Jindal Strips Ltd. (now converted into Jindal Steel, Jindal Stainless, Jindal Hisaar and Nalwasons Ltd.). Now the situation is that those shares are about to get transferred in our name upon payment of a certain amount. The following is the scenario:
Shares of Jindal Steel are transferred to IEPF.
Shares of other companies are in the physical form and not demateralised with a STOP mark on them.
Court has ordered that the other party should transfer the shares in our name after dematerialising the shares.
I have the following dilemmas:
The problem comes here is what happens if the other party gets the shares DEMAT and then sells them without our knowledge? Is there a procedure to put a stop mark or lock the shares from selling after DEMATing the shares?
Can IEPF directly transfer the shares in our name after the court order or the other party will get the shares and transfer them to us? If the latter is the case then again can the shares be stopped from bieng transferred/sold to anyone else?
It would be great if anyone could clear our doubts. Thanks.