Transfer of disputed shares

Stocks
1

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:

  1. Shares of Jindal Steel are transferred to IEPF.

  2. Shares of other companies are in the physical form and not demateralised with a STOP mark on them.

  3. Court has ordered that the other party should transfer the shares in our name after dematerialising the shares.

I have the following dilemmas:

  1. 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?

  2. 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.

2
  1. If another party does that It would be called “Contempt to the court order” I don’t think the other party will do that unless the opposite party is bankrupt and doesn’t have any assests.
  2. I think IEPF will honor the court orders and will transfer the shares in your name, but your case is complicated and lots of parties will be involved like the opposite party, company, company’s registrar, and IEPF. I would suggest that you take the help of a professional firm like HTTP://www.supergrowth.in