C.A. No. 272/2014 in CP No. 46/2006. Case: Ashok Mittal and Ors. Vs Uniworth Resorts Ltd. and Ors.. Company Law Board
| Case Number | C.A. No. 272/2014 in CP No. 46/2006 |
| Counsel | For Appellant: Siddhartha Mitra, Sr. Advocate, M. Hossain, Titash Mukherjee and Suruchi Khunteta, Advocates |
| Judges | Manorama Kumari, Member (J) |
| Issue | Company Law |
| Judgement Date | January 10, 2017 |
| Court | Company Law Board |
Order:
Manorama Kumari, Member (J), (Kolkata Bench)
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The petitioners filed the Petition under Section 397 and 398 of the Companies Act, 1956 seeking various reliefs against the acts of mismanagement and oppression in the affairs of the Respondent No. 1 Company and also others as mentioned in the array of parties.
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The said petition was allowed to be amended vide Order dated 27-07-2007 passed by the Principal Bench of the Company Law Board, New Delhi and the Petitioners filed the amended petition. The Petition along with connected papers have been transferred to the erstwhile Company Law Board, Kolkata Bench, for disposal vide order dated 16-10-2012 passed by the CLB, New Delhi.
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Consequent upon the formation of the National Company Law Tribunal and dissolution of the then CLB, the cases have been transferred to this Bench of NCLT for disposal.
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The petitioner filed the instant application being C.A. No. 272/2014 seeking various reliefs including impleadment of Shri Prashant Chinappa Suvarna, son of Shri Chinappa Suvarna, residing at Flat No. 2, Vasant Vihar, Pune, as party respondent and also other consequential directions/reliefs.
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The said Application was heard on different dates and finally on 25-11-2016 when the Ld. Lawyers on behalf of the petitioners advanced the argument, no one appeared on behalf of the respondents in course of hearing on different dates as well as on this date.
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The records show that the respondents remained absent on different dates without any steps and hence, the matter was proceeded ex parte against the absenting respondents.
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The brief facts leading to this instant Application being C.A. No. 272/2014 are that:
The petitioners/applicants had preferred the aforesaid C.P. No. 46/2006 which was filed in 2006 before the then CLB, Principal Bench in New Delhi by the petitioners under Sections 397 and 398 read with Sections 402, 403 and 406 of the Companies Act, 1956 aggrieved by the oppression and mismanagement suffered in the Respondent No. 1 Company by the fraudulent conduct of Respondent No. 2 and 3 at the behest of Respondent No. 7 wherein the petitioners' total shares had been reduced to a minority by an unlawful and illegal increase of share capital to dilute the share ratio of the petitioners and to illegally take ownership of the company as well as its only immoveable asset being the property in Goa (prime land in Goa admeasuring 2,05,400 sq.mt. falling in the limits of Goa, Taluka Canacona, South Goa in the State of Goa.
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The then CLB, Principal Bench in New Delhi had passed an interim order dated 14-06-2006, whereby the CLB had restrained the Company and other parties from disposing off any of the immoveable properties of the company and had ordered the parties to maintain the status quo with regard to immoveable properties of the company as of date, till the respondents apply for modification with a week's notice to the petitioner.
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Thereafter, the petitioners had sought certain amendments to their company petition which the CLB allowed vide order dated 27-07-2007.
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The respondents being aggrieved with the aforesaid order of the Board, had instituted an appeal before the Hon'ble High Court at Calcutta and the same was disposed on 05-09-2007, wherein the impugned order of the CLB dated 27-07-2007 was not disturbed. However, the CLB, New Delhi was asked to supply the reasons for which the order had been passed. Accordingly, the matter was remanded back to the Hon'ble Board.
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The Amendment Application was once again heard by the CLB. However, this time the CLB disposed...
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