AJAY PALIWAL Vs. SANJAY PALIWAL

JUDGEMENT

(1.) Present two appeals have been filed under Section 10F of the Companies Act, 1956 (for short Act ) against the impugned order/judgment dated 31st May, 2007 passed by Company Law Board (for short CLB ) in Co. Pet. 78/2005 filed by the respondents-petitioners therein.

(2.) The relevant facts of these two cases are that on 11th October, 1985, M/s. Paliwal Hotels Private Limited, the appellant No.1 company in Co.A(SB) 18/2007 was incorporated as a Private Limited Company with the Registrar of Companies, Delhi and Haryana. The Paliwal family comprising three brothers namely, Mr. J.K. Paliwal, Mr. N.K. Paliwal and Mr. B.K. Paliwal, owned this company. The chart showing the Paliwal family structure is reproduced hereinbelow:- XXX XXX XXX

(3.) In September, 2005, a Company Petition under Sections 397 and 398 of the Act was filed before the CLB by the respondents No.1 and 2 namely, Mr. Sanjay Paliwal, son of Mr. B.K. Paliwal and Mr. J.K. Paliwal, father of Mr. Ajay Paliwal. The said petition was registered as Co. Pet. 78/2005.