SUMANA BHASIN Vs. EASTERN CONNEXION

JUDGEMENT

(1.) Present appeal has been filed under tion 10-F of the Companies Act, 1956 (for short Act?) challenging the order dated 24 th August, 2009 passed by the Principal Bench, Company Law 7Board (for short CLB?) whereby the respondent was directed to pay Rs. 3,00,000/- to the appellant on or before 15 th September, 2009 as fair valuation for the 1000 shares held by the appellant . On receipt of the aforesaid consideration, the appellant was directed to transfer to the respondent her entire shareholding in the respondent company and the register of the members of the company was to be rectified.

(2.) The relevant portion of the impugned order is reproduced hereinbelow:-

(3.) Ms. Malavika Rajkotia, learned counsel for appellant submits that the valuation is entirely based on a report furnished by M/s. Vipin Aggarwal, Chartered Accountant, who in turn has not observed principles of natural justice inasmuch as no opportunity of hearing was given to the appellant.