KHIMJI M SHAH Vs. RATILAL DAMODARDAS MODI

JUDGEMENT

(1.) This is a Company Application for amendment of the .petition by adding respondents Nos. 6, 7, 8 and 9 in the Company application as party respondents to the main petition and for adding paragraphs 30-A to 30-T as well as a several additional prayers as set out in the Schedule to the Company Application. The length of the amendments proposed could have been substantially reduced had the applicants applied themselves to it. But this is no ground for rejecting the application. Hence I propose to consider the amendments on merits.

(2.) Company Petition No. 573 of 1984 is a petition under sections 397 and 398 filed by the shareholders representing about 35 per cent of the share-holding in the 5th respondents. Company---Reliable Extraction Industries Pvt. Ltd. Respondents Nos. 1 to 4 in the petition hold an aggregate of about 31 per cent of the equity shares in the said Company. Petitioners Nos. 1, 2, 3 and respondent No. 1 constituted, at the material time, the Board of Directors of the 5th Respondent Company. It seems that by reason of events which have transpired subsequent to the filing of the petition the present amendments are being sought.

(3.) After the filing of the present petition, at the interim stage the parties agreed that the 9th respondent would be appointed as the Chairman and Managing Director of the 5th Respondent Company. Thereupon certain orders were taken in the Company Petition. The events which led to the appointment of respondent No. 9 as the Chairman and Managing Director of the 5th Respondent Company have been set out in the proposed amendments.