S SREEDHAR Vs. MAHABALESHWAR AUTO INDUSTRIES PRIVATE LIMITED

JUDGEMENT

(1.) THIS is an appeal under Section � 10F of the Companies Act, by a person who was before the Company Law Board, Additional Principal Bench, Chennai in Company Petition No.57/2007, seeking for relief invoking provisions of Sections � 111, 235, 397, 398 and 402 of the Companies Act, 1956.

(2.) THE Company Law Board having in terms of its order dated 06.01.2011, dismissed the company petition on a preliminary issue of maintainability of the company petition. Holding that, the petition was not maintainable, inasmuch as it found that the petitioner did not qualify for relief either under Section � 111 or for an order under Section � 402 on the premises as available under Section � 397 or 398 of the Act. For the reason that, the petitioner did not fulfill the requisite qualification of holding a minimum of 10% of the shareholding of the company in terms of Section � 399 of the Act, the company petition came to be dismissed.

(3.) THE matter is listed today for Orders on the following applications: