Bombay High Court To Hear ACC Cement's Appeal In Case Over Dematerializing NRI’s Shares In Someone Else’s Name
1 year, 10 months ago

Bombay High Court To Hear ACC Cement's Appeal In Case Over Dematerializing NRI’s Shares In Someone Else’s Name

Live Law  

The Bombay High Court has admitted ACC Limited’s appeal against a decree that found the cement company negligent for dematerializing an NRI’s shares in someone else’s name. On March 27, 2017 a civil court held ACC negligent for dematerializing the NRI - Dr. Rustom Sam Boyce’s - shares in someone else’s name despite being put to notice that the shares were stolen. Before the Bombay High Court ACC submitted that the essential ingredients of finding of negligence are Duty of Care Duty owed to Plaintiff and Careless breach of such duty. Based on the judgment, the Bombay High Court held that none of the factors necessary to record finding of negligence have been considered by the trial court.

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