Court : Company Law Board CLB
Reported in : (2005)126CompCas620
1. In this order, I am considering application CA 72 of 2004 filed by the 1^st respondent seeking for dismissal of CP 32 of 1996 on the ground that the petition is not maintainable in terms of Section 399 of the Companies Act, 1956 (the Act).2. This petition alleging acts of oppression and mismanagement in the affairs of 14^th respondent- M/s Alaukik Trading and Investment Pvt Ltd- (the company) was filed in 1996. The main allegations in the petition are that even though the 1^st petitioner was the majority shareholder in Alaukik holding 84% equity shares, additional equity shares to the extent of 1500 shares were allotted to the 1^st respondent in exclusion of other shareholders of the company with the view to gain majority in the company and that there had been illegal transfer of shares of the company. Even though a number of interim orders were passed from time to time, the hearing of the main petition was being deferred till 1999, mainly on the ground that there was a preexisting...
Tag this Judgment!Court : Company Law Board CLB
Reported in : (2008)3CompLJ146
..... , the petitioner has filed ca 197 of 2006 seeking for a decision on these issues. accordingly, in this order, i will be considering these issues.4. m/s consulting engineering (india) ltd, a deemed public company at the relevant time, was incorporated in the year 1969 by a group engineering professionals. late k.k. framji, the father of the petitioner was ..... 1. this case has a long history. the petitioner claiming to hold 15% shares in consulting engineering services india ltd (ces) filed this petition in december 1997, challenging the decision of the board of ces to allot further shares without any offer to the petitioner. when the petition was .....
Tag this Judgment!Court : Company Law Board CLB
Reported in : (2005)57SCL98
..... 5(a), before the allotment of impugned shares in favour of second petitioner and himself. the articles of association are the internal regulation of the company, according to which the directors are bound to act, regulating the internal management of the company and any act outside the articles is irregular unless ratified by the members. this wrongful act ..... visiting cards in the name of trims india company. both these entities are carrying the business in the same registered office premises of the company. the second respondent recently purchased a flat for an amount of ..... before the income tax authorities. the second respondent diverted the business of the company to m/s texfab, a partnership firm started by him and m/s trims india company, a proprietary concern, run in the name of the third respondent, as borne out by copies of the statement of accounts of indian bank and the .....
Tag this Judgment!Court : Company Law Board CLB
Reported in : (2004)4CompLJ519
..... (a), before the allotment of impugned shares in favour of second petitioner and himself. the articles of association are the internal regulation of the company, according to which the directors are bound to act, regulating the internal management of the company and any act outside the articles is irregular unless ratified by the members. this wrongful act ..... visiting cards in the name of trims india co. both these entities are carrying the business in the same registered office premises of the company. the second respondent recently purchased a flat for an amount of ..... false income tax returns before the income-tax authorities. the second respondent diverted the business of the company to texfab, a partnership firm started by him and trims india co., a proprietary concern, run in the name of the third respondent, as borne out by copies of the statement of accounts of indian bank and the .....
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