SANJAY GAMBHIR Vs. D. D. INDUSTRIES LIMITED

JUDGEMENT

(1.) The challenge in this appeal under Section 10 F of the Companies Act, 1956 ('Act') is to an order dated 22 nd November 2012 passed by the Company Law Board ('CLB') in Company Application No. 417 of 2012 filed by Respondents 3 & 4 in Company Petition No. 92 (ND) of 2010.

(2.) The background of the present appeal is that Appellant No. 1, Mr. Sanjay Gambhir, Appellant No. 2, Mrs. Reena Gambhir, wife of Appellant No.1, and Appellant No. 3 Mr. Kanish Raaj Gambhir, son of Appellant No. 1, along with Mr. Karan Gambhir, son of Mr. Surinder Kumar Gambhir and brother of Appellant No. 1, held 33% share holding of D.D. Industries Limited ('DDIL'), Respondent No.1. Mr. Karan Gambhir is the Managing Director ('MD') of DDIL since the year 2005.

(3.) DDIL was initially incorporated under the Act on 30 th March 1974 as Daulat Ram Dharam Bir Auto Private Limited. Later it was converted into a public limited company with the changed name of Daulat Ram Dharam Bir Auto Limited. Subsequently, the name was further changed to DDIL with a fresh certificate of incorporation, dated 10 th May 1999, issued by the Registrar of Companies ('ROC'), Delhi and Haryana.