(1.) This is an appeal filed under Section 10F of the Companies Act, 1956, challenging an order passed by the Company Law Board in C.P. No. 64 of 2006, instituted under Sections 397, 398, 402 and 403 read with Sections 235, 237 and Schedule XI of the Companies Act, 1956.
(2.) I have heard Mr. T.K. Seshadri, learned Senior Counsel for the Appellants, Mr. P.H. Arvind Pandian, learned Counsel for the third Respondent, Mr. Satish Parasaran, learned Counsel for the sixth Respondent, Mr. A.K. Raghavelu, learned Counsel for Respondents 9 and 10, Mr. C. Umashankar, learned Counsel for the 22nd Respondent and Mr. Neelakandan, learned Counsel for the 23rd Respondent.
(3.) Six brothers by name S. Narayanan Pillai, S. Subramaniam Pillai, S. Karuppasamy Pillai, S. Paramasivam Pillai, S. Sundaram Pillai and S. Kalyanasundaram Pillai promoted Aruna Theatres and Enterprises Pvt Ltd. as a private limited company in the year 1979. Out of the six brothers, 5 are no more. The lone surviving brother is the 17th Respondent herein.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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