PRASHANT HASMUKH MANEK Vs. RAMU ANNAMALAI RAMASAMY

JUDGEMENT

(1.) Heard Mr. Arvind P. Datar, Mr. P.R. Raman, Mr. Aurup Das Gupta, Mr. P.S. Raman, Mr. Satish Parasaran, Mr. A.R.L. Sundaresan, Senior Counsel appearing on either side. Perused the documents and written ssubmission.

(2.) Facts form the core of an adjudicatory process. Thus, it is imperative to place them on record.

(3.) 1. The appellants owned 6 per cent shares in M/s.Hermes i-Tickets Private Limited (hereinafter referred as "Hermes"). The first and the second appellants owned 5.2 per cent and the third appellant owned 0.8 per cent shares respectively. G.I.Retail Private Limited, the third respondent company was held by the first and the second respondents and their family members. To be precise, they hold 63.4 per cent and the remaining 36.6 per cent was with the members of their family.