{"id":29570,"date":"2008-08-06T00:00:00","date_gmt":"2008-08-05T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/ms-rashmi-gems-stocks-and-shares-vs-sri-h-nagaraja-on-6-august-2008"},"modified":"2015-11-13T18:04:07","modified_gmt":"2015-11-13T12:34:07","slug":"ms-rashmi-gems-stocks-and-shares-vs-sri-h-nagaraja-on-6-august-2008","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/ms-rashmi-gems-stocks-and-shares-vs-sri-h-nagaraja-on-6-august-2008","title":{"rendered":"M\/S Rashmi Gems Stocks And Shares … vs Sri H Nagaraja on 6 August, 2008"},"content":{"rendered":"
Karnataka High Court<\/div>\n
M\/S Rashmi Gems Stocks And Shares … vs Sri H Nagaraja on 6 August, 2008<\/div>\n
Author: N.Ananda<\/div>\n
IN THE HIGH COURT OF' KARNATAKA AT gg\ufb01s\ufb01am\u00e9s ' \n\nDATED THIS THE Gem DAY I\u00a7f4' 'AUG1*J.sT\u00ab2i:\u00bb_'6A\"' .V \"  \nCML Riavlsmrsy P1=:';t:*i'z\\\u00a71s:- biases '3\nBETWEEN:  t M    \n\n54\/ s. Rashmi (3c::ns.St0zi1iurain Extc-msion\n\nNear Syndica'w'v5B8i21k';-- \" ' \"    .\n\nHanumant\ufb01anagar \"\n\n;,__ _ _ __\n\nRep. by\ufb01its Dir\u00a3\u00a7\u00a2tor,:V';V ' _  .\n\nVenkatrgsh  _  .. ' ' ...Pe:titio11er\n\n(By   Kumar 6; T.S.Srin:ivasa,\nAdvocates)       \n\n        \n\n  f ~ .3:-;.4:4x;:5raiga:aja\n\n. '_ I Lah' BIN . H-:-mumaiah\n. \"Aged 'a\u00e9bo\ufb01t 43 years\n R};-:12' No.3, 691 Cream, 40 Feet Road\nP\ufb02axajunath Nagar\nBa1:tgaIoI~c~--56O 010.\n\n ._ HM\/s. Satisha 85 Company\nNQ124, 1\" Floor, Margosa Road\nMallcswram\n\nBa:ngaiorc~560 003\n\nRep. by its Proprietor,\nB.R.Satisha\n\n\n\n ., . N;:;7j5121 dated 20.3.2000, a sum of R's.40,\u20ac}OO\/~--,\n\n. * R's.60.f2?{}f\u00a7.i=\u00e9nd Vida: chmuc: No.75125 dated 4.6.2000, a\n\n  {}i.iz1t: 2000 cash of Rs.30,00(}\/~ were  to the\n\nRs.2,00,\u20ac}0O\/~. On presentation, cheque was \nwant of funcis. Therefore, plainti\ufb01' \ufb01led the suit--'.fEar  \n\nofmoncy. V .'     ,\n3. Defendants I 35 ll confestogfd .,h:\"~; :'ni1i'\u00bb::tier 'aI1(i\n\nseparate written statcments.\n4. G11 o'7.1o.2oo6,_mfa1  foa\u00a2w\u00a7fmgf%issues:\u00ab\n1.<\/pre>\n
 Whether the  titga\ufb01 ‘igu\u00e9i made over 2%
\nshares of Centum   ‘ *\u00a7a_i;:;3si*t:s of Aptech
\nLimited, 50 sliegres of;if3I:C;’:,.:  Nahar Exports,
\n40 sha1\u00a7g.’*.gf   .;’.2.0() \u00e9.”11ares of Reliance
\n    being a sub-bmker<\/p>\n
undef\u00e9r”V\u00a3i1eT.:i\u00a2:\u00a7e\ufb01&\u00a7=iut ?&g\u00a7;’1 1:.5i”:1g”t11e main maker, to sell<\/p>\n
the same in  \u00e9iiizgfrk\u00e9t?\n<\/p>\n
2. Vfhgzthcz:   ploves that by ch\ufb01qlze
\nNai.7s122 cia:.m17’2Q.3.20o0 sum of Rs.16,7S0\/-, by<\/p>\n
  30.75123 dated 30.3.2000 a sum of<\/p>\n
sam –_c:;1′ -Rs;.40,0G0\/- and vide cheque N0.960-47 dated\n<\/p>\n
28.d8,_?.0O0 sum of Rs.27,365\/ –, as Well in the month of<\/p>\n
defendant No.2 being $ub-broker under  ‘
\nNo.1 being the main broker, and tfge u
\non Ma\ufb02eswaram Co-apem\ufb01vfhi
\nBranch, Bangaiore and thus sucfh ofT R5 ..<\/p>\n
came to be paid for the  of <\/p>\n
. Wh\ufb01\ufb02\ufb01er the  fh1th\u00a2r——i;mv\u00e9a*.}A tha’f’abovev’\u00a7mfened<\/p>\n
cheques W\ufb01f\ufb01 made  fnrzxm his sister?<\/p>\n
. Whether the    as the defendant\n\nNo.2    discharge of said\nliability    \u00e9hcquc in his favour\n<\/pre>\n
for s12–m.o’f cheqfic No.244(}83 drawn on
\n ._   –S’\u20acock Exchange, Bangalore<\/p>\n
. Wlileihcr  further proves that on presentation<\/p>\n
d:f :th::V.said cheqaes’ on 11.1.2001 at Maileswaram Co~<\/p>\n
A ‘   Limited, Malleswaram Branch 011
\n ._  ‘i\u00a7:”\u00e9\u00a7as returnecl on aoceunt of insu\ufb01iciency of<\/p>\n
femds? ~ _ 3 <\/p>\n
 .. Whcth\u00e9r the plaintiff further proves that again as per the
\nV v.;_s\u00a7.i:uest of defendants 1 and 2 on rerpresentafion of the<\/p>\n
 said cheque during second Week of February 2001 the
\n” same came to be returned on 14.2.2001 again on the<\/p>\n
account of funds insu\ufb01cicnt?\n<\/p>\n
N.d\u00abv~e-~e1\u00bb\u00bb-\n<\/p>\n
   ‘Whether the defendant No.1 \ufb01uiher proves; that the
\nVT   made thmugh legal no\ufb01cae dated 28.2.2001 was<\/p>\n
7. Whether the plaintiff further proves    _
\ncomplaint agaizzst the deffendantfs’ Ifaizsi\u00e9    ‘ 1117:’ avln\ufb01 b ‘ AV<\/p>\n
Case vide Ne.l23lO2 is pendirig befeie ‘7’t’l’1t3″‘1%’\\.i.1(‘Ziu}piV;i'{;s=3\u00a3.1\u00a7’l7.:
\nChief Judicial Magisrmte Baa, ‘a-gal0re7P_v.  e V  ‘ ‘<\/p>\n
8. Whether the plai11\ufb01\ufb01”pIt3ves___t%}’3:::1f he is..e2\ufb01_i’t 1_edvvii:e claim<\/p>\n
interest. at the rate ofA___1 \u20ac.’.%> per <\/p>\n
9. Wheiher the defendant-eNv.1–.   it terminated
\nservices of  sub-bmker on
\n6.12.200{}”a};d   was not its client?<\/p>\n
16.   1  proves that the
\nsuit\ufb02is   as the plaintiif in the
\n of of his sister has \ufb01led the suit
\n‘sxrithoutVV’a:\u00a7.’i:s+e1o:\u00a7i\u00a31_\u00e9  share transactrion made by
\n sister   payments made to the defendant<\/p>\n
  V  defendant No.1 proves that the suit
\n  were not in accordance with Bye–1aws of<\/p>\n
 Stock Exchange and also as per the guidelines
\n A.  See\ufb01rity Exchange B-oaz\ufb02 of India (SE81)?<\/p>\n
con\ufb01ned only for the shares handed over to the defendant<\/p>\n
N’C:\u20acL’v’~9V””\ufb02””\n<\/p>\n
No.2 and the plaint averments disclose  .<\/p>\n
$’vi:t::g at’ said shama the payment  ”
\nshares and hence there is co1lusiica1″bcf3avL=:cI1;’th\u00a7:y3.air1\u20aci\ufb02'””.<\/p>\n
it? _ ._   ,\n<\/p>\n
13. Whether the defendant   present
\nsuit is hopelessly   VV ” ‘ ‘ <\/p>\n
14. What decree or  ”   f<\/p>\n
3. O3}  ‘  an application
\nunder Ozdea ii. to rcjacf: the plaint
\nas it    learned trial Judge on
\noonsiiefatip\ufb01 pf’ issues \ufb02amed has held that<\/p>\n
suit    1 and there are no gmunds to<\/p>\n
‘% A’ ‘meavpaagt. The”1;e\u00a71ned trial Judge has found am: with<\/p>\n
   the Court with an application<\/p>\n
 01:15: Rule 1 1(a) \u00a35 1 1(d) CFC, when the case was<\/p>\n
”  evidence. Therefore, the leazmed trial Judge<\/p>\n
    costs of Rs.1,0()O\/–.\n<\/p>\n
and the defendant No.2 to  <\/p>\n
6. The learned Counsel for Pciefcndant   <\/p>\n
plaint does not disciose any cans.-e”‘cf \u00abac-\u00a7’io1\u00a7’,” <\/p>\n
question was not drawn by I–defe\u00a5idaii.fi A’  <\/p>\n
time. u A ‘<\/p>\n
7. The learned cqunsex  gixbmjt in
\norder to invoke Order \u00a321:-.\u00a7%\u00e9;;1e’\u00ab~. ;1f9;;;.   CPC. the Couirt
\nneed not consiclgi’ ‘the  I :’.1i;:fcndants. The
\naverments   <\/p>\n
 ‘KS’     issues \ufb01amad, there. are<\/p>\n
series   hpartzies. The I-\u00abdefendant is<\/p>\n
stated to lirok\u00a7\u00e91*__  ‘i\ufb01dcfcndant is as sub–b:mker. It its<\/p>\n
 V. \u00ab_ alsq  that \ufb021e3r1_=_;___Were transactions inter SC defendants.<\/p>\n
 TiieIEf0z’\u00a7;’.qu;\u00e95?ion of joint and several liability of I 85 II-<\/p>\n
‘<'.;ii3i:E\u00a71\u00bb:iavV1.1Vt$=.?."_'if:~'s 'gi\ufb01aatter to be deem' ed after holding me' 1. So<\/p>\n
.\u00a2 alsogis  far Ldefcziclant not being drawer of cheque is<\/p>\n
" K   \u00bb :}iab!g_ tovfray suit cla1m' is a matter to be dealt!' ed a\ufb01\ufb01r tr;al' .<\/p>\n
 "A9. As regards ques\ufb01on of limitation, suit is ii% for<\/p>\n
" Eiicaovczy of money said to be paid on various dates, as stated<\/p>\n
W <\/p>\n","protected":false},"excerpt":{"rendered":"
Karnataka High Court M\/S Rashmi Gems Stocks And Shares … vs Sri H Nagaraja on 6 August, 2008 Author: N.Ananda IN THE HIGH COURT OF’ KARNATAKA AT gg\ufb01s\ufb01am\u00e9s ‘ DATED THIS THE Gem DAY I\u00a7f4’ ‘AUG1*J.sT\u00ab2i:\u00bb_’6A”‘ .V ” CML Riavlsmrsy P1=:’;t:*i’z\\\u00a71s:- biases ‘3 BETWEEN: t M 54\/ s. Rashmi (3c::ns.St0zi1iurain Extc-msion Near Syndica’w’v5B8i21k’;– ” ‘ […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,20],"tags":[],"class_list":["post-29570","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"\nM\/S Rashmi Gems Stocks And Shares ... vs Sri H Nagaraja on 6 August, 2008 - Free Judgements of Supreme Court & High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/ms-rashmi-gems-stocks-and-shares-vs-sri-h-nagaraja-on-6-august-2008\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M\/S Rashmi Gems Stocks And Shares ... vs Sri H Nagaraja on 6 August, 2008 - 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