KILLICK NIXON LTD Vs. DHANRAJ MILLS PVT LTD

JUDGEMENT

(1.) These are two appeals against the interim order in Company Petition No. 196 of 1981, under s. 155 of the Companies Act, 1956 (hereinafter referred to as "the Act"), filed for rectifying the register of members. Appeal No. 344 of 1981 is filed by original respondent No. 1 - company and Appeal No. 345 of 1981, is filed by original respondent No. 2 - shareholder. Since both the appeals seek to challenge the same order and on the same grounds we are disposing of them by this common judgment. For the sake of convenience we will take facts from Appeal No. 344 of 1981.

(2.) The appellant is a public limited company and is hereinafter referred to as "the company." Respondent No. 1 is a private limited company and is a shareholder of the Company; respondent No. 2, is both a shareholder as well as a director of the Company. Respondents Nos. 3 and 4 are the Controller of Estate of Duty and the Regional Director of the Company Law Board respectively, whereas respondent No. 5 is the Union Bank of India from whom some of the shares in dispute were purchased by respondent No. 2 and here deceased mother, Shantaben Kapadia.

(3.) Respondent No. 1 has filed the present petition, as stated earlier, under s. 155 of the Act for rectifying certain entries in the appellant company's register of members. The said entries relate to five different lots of shares, made in the name of respondent No. 2. In the petition, respondent No. 1 has also prayed for the appointment of a receiver in respect of the said shares and for an injunction restraining the appellant-company from recognising respondent No. 2 as the registered shareholder in respect of the said shares pending the disposal of the petition. In the petition, respondent No. 1 took out a judge's summons for interim reliefs in therms of the above prayers. However, the only interim relief which need be considered in this petition and which was pressed before the learned single judge was as follows :