Abedeen Abdulkader Tyebally v Tyebally Akhtarhusein Hatim: Dispute over Ownership of Reliance Industries Shares

In Abedeen Abdulkader Tyebally v Tyebally Akhtarhusein Hatim, the High Court of Singapore addressed a dispute over the ownership of Reliance Industries Limited (RIL) shares. The plaintiff, Abedeen Abdulkader Tyebally, sought a declaration that he was the owner of RIL shares arising from the exercise of warrants, while the defendant, Tyebally Akhtarhusein Hatim, contested the existence of an agreement granting the plaintiff sole ownership. The court, finding a substantial dispute of fact, made no orders on the application and directed that it be converted to a writ action, allowing the plaintiff to prove the existence of the agreement or the lack of value of the warrants at trial.

1. Case Overview

1.1 Court

High Court

1.2 Outcome

No orders made; application converted to a writ action.

1.3 Case Type

Civil

1.4 Judgment Type

Grounds of Decision

1.5 Jurisdiction

Singapore

1.6 Description

A dispute arose between Abedeen Abdulkader Tyebally and Tyebally Akhtarhusein Hatim over the ownership of Reliance Industries shares. The court ordered the application to be converted to a writ action.

1.7 Decision Date

2. Parties and Outcomes

Party NameRoleTypeOutcomeOutcome TypeCounsels
Abedeen Abdulkader TyeballyPlaintiffIndividualApplication converted to writ actionNeutral
Tyebally Akhtarhusein HatimDefendantIndividualApplication converted to writ actionNeutral

3. Judges

Judge NameTitleDelivered Judgment
Choo Han TeckJudgeYes

4. Counsels

Counsel NameOrganization
Tham Feei SyDrew & Napier LLC
Hri KumarDrew & Napier LLC
Mahmood Gaznavi s/o Bashir MuhammadMahmood Gaznavi & Partners

4. Facts

  1. The plaintiff, defendant, and one Abdullah jointly owned debentures in Reliance Industries Limited.
  2. Reliance Industries Limited made an offer to debenture holders to roll over their debentures and extend the redemption date.
  3. Debenture holders would receive two Reliance Industries Limited warrants for every five debentures.
  4. Each warrant entitled its holder to apply for one Reliance Industries Limited share at Rupees 150 each.
  5. The debentures jointly owned by the trio were rolled over pursuant to the offer, and warrants were issued to them.
  6. The plaintiff claimed there was an agreement that the shares would belong to him absolutely since he paid for them.
  7. The defendant denied the existence of any such agreement.

5. Formal Citations

  1. Abedeen Abdulkader Tyebally v Tyebally Akhtarhusein Hatim, OS 473/2008, [2009] SGHC 81

6. Timeline

DateEvent
Lawsuit filed
Judgment issued

7. Legal Issues

  1. Ownership of Shares
    • Outcome: The court determined that there was a substantial dispute of fact regarding the ownership of the shares and directed the application to be converted to a writ action.
    • Category: Substantive
  2. Existence of Agreement
    • Outcome: The court found that there was a dispute of fact as to whether an agreement existed between the parties regarding the ownership of the shares.
    • Category: Substantive

8. Remedies Sought

  1. Declaration of Ownership
  2. Shares

9. Cause of Actions

  • Breach of Contract
  • Declaration of Ownership

10. Practice Areas

  • Commercial Litigation

11. Industries

  • Finance

12. Cited Cases

Case NameCourtAffirmedCitationJurisdictionSignificance
No cited cases

13. Applicable Rules

Rule Name
No applicable rules

14. Applicable Statutes

Statute NameJurisdiction
No applicable statutes

15. Key Terms and Keywords

15.1 Key Terms

  • Debentures
  • Warrants
  • Reliance Industries Limited
  • Shares
  • Agreement
  • Roll-over
  • Subscription Price

15.2 Keywords

  • Shares
  • Debentures
  • Warrants
  • Ownership
  • Agreement
  • Reliance Industries Limited

17. Areas of Law

Area NameRelevance Score
Shares70
Contract Law60
Corporate Law50
Warrants40
Estoppel30

16. Subjects

  • Companies Law
  • Shares
  • Contract Law