DEUTSCHE BANK AG Vs. VILAS SAMANT

JUDGEMENT

(1.) This appeal under Section 10F of the Companies Act, 1956 challenges an interim order passed by the Company Law Board dated 21-1-2009 in a petition filed by the first respondent inter alia under Sections 111, 397 and 398 of the said Act.

(2.) The first respondent is the petitioner. The appellant is respondent No. 5 in the petition. Respondent Nos. 2 to 9 in the appeal are respondent Nos. 1 to 4 and 6 to 9 in the petition. Respondent No. 2, Cowtown Land Development Private Limited, is the company in respect of which the petition has been filed. Respondent Nos. 3, 4 and 5 are individuals belonging to the Lodha family who in turn control respondent Nos. 6 to 9 companies.

(3.) By the impugned interim order the Board of Directors of the company has been restrained from allotting shares to the Appellant on the basis of the conversion of debentures held by the Appellant and issued by the company in respect of an investment of Rs. 1,640 crores.