DALLAH ALBARAKA (IRELAND) LIMITED Vs. PENTAMEDIA GRAPHICS KIMITED

JUDGEMENT

(1.) The appellant in all the four appeals is the applicant in the four applications, arising out of Company Petition No. 106 of 2010 on the file of Company Law Board, Chennai, which are rejected by the Company Law Board. Company Petition No. 106 of 2010 was filed under Sections 397, 399, 402, 403 and 406 of the Companies Act, by the first respondent/Pentamedia Graphics Limited against the respondents 2 to 6 Mayajaal Entertainment Limited and Others and the same was disposed of by the Company Law Board on 28.2.2011 in terms of the settlement between the parties. The applications order made thereon is impugned herein, came to be filed by the applicant/Dallah Albaraka (Ireland) limited/non party claiming themselves to be the proven creditor of the first respondent/Pentamedia graphics Ltd. and the reliefs sought for in the applications are (1) to recall and set aside the order dated 28.2.2011 passed in C.P. No. 106 of 2010 (ii) to implead the applicant as party to the Company Petition (iii)to stay the operation of the order dated 28.2.2011 and (iv) to implead one Mr. V. Chandrasekaran as party respondent in the Company Petition. All the applications were disposed of by the impugned common order mainly on the ground of locus standi of the applicant to maintain any action against legality and validity of the order passed in the Company Petition. Hence, these appeals before this Court.

(2.) The present company appeals are admitted on the following questions of law:

(3.) The Additional question of law framed by this Court is: