In the first case, there is no need of a btf on a successful outcome of the suit, the Court will sell the shares and under Order 21 Rule 80 of the Civil Procedure Code, sign the transfer forms conferring full title on the buyer. These rights can be summarized as under. The prescribed period under the Indian Limitation Act is as follows. There are, in our view, two interpretations available, from a plain reading of the Bombay Stamp Act, in this behalf. Alternatively, As we noted above, shares are movable property.
Movable property is defined separately from a marketable security.
The second interpretation, in our opinion, is as valid as the first. Any other guidelines when taking pledge of shares in Indian Companies held by Non-Resident Indian, Overseas Corporate Bodies or Foreign Citizens. The Law Book Review Company. West of Khar.