Draft amendment is granted. The same shall be carried out forthwith.
Learned Senior counsel Shri Sanjanwala with Shri Kanojiya, learned advocate for the petitioner has submitted that the requisite application in prescribed form was presented with all required affidavits by the members of HUF with a request and no objection to transfer security in the name of the present petitioner who happens to be 'Karta' of newly formed HUF. The invocation of Section 6 of the Hindu Succession Act is unfortunate, as even otherwise also their own rules which has been cited and quoted in the letter annexed to the draft amendment makes it clear that if the market value is less than Rs.10 lacs, then without insisting upon the succession certificate, the transfer is to be effected.
In view of this, let there be a notice returnable on 12.04.2012. Direct service is permitted.
(S.R.BRAHMBHATT, J.) Pankaj Top