Court : Company Law Board CLB Delhi
Reported in : 2009(95)SCL161(CLB-NEWDELHI)
1. The petitioner holding 100 shares and claiming to be entitled to 20 per cent shares in M/s. Seth Hotels Private Limited has filed this petition alleging that by issue and allotment of further shares, his percentage shareholding of 20 per cent has come down to an insignificant percentage and as such has sought for cancellation of issue and allotment of all the shares impugned in the petition. He has filed an application CA 364/2008 seeking for tagging this petition with CP 86/2006 filed by another shareholder on the same set of allegations. The respondents have filed CA 363/2008 challenging the maintainability of the petition in terms of section 399. 2. The facts of the case are that the company was a family company incorporated in 1993 with the petitioner and four of his brothers being the signatories to the memorandum and subscribing to 100 equity shares each of Rs. 10. Thus, each held 20 per cent shares in the company. The paid-up capital remained as Rs. 5,000 till 26-8-2000. The ...
Tag this Judgment!