RAJ SHEKHAR AGARWAL Vs. PRAGATI 47 DEVELOPMENT LTD

JUDGEMENT

(1.) NO serious question of law is raised in this appeal under Section 10F of the Companies Act, 1956 against an interim order passed by the Company Law Board, Kolkata Bench in proceedings under Sections 397 and 398 of the Companies Act, 1956. By the order impugned, the Company Law Board has restrained the appellants from issuing any letter that would cause any prejudice to the company. The appellants contend that the Company Law Board does not have powers to restrain the exercise of the fundamental rights by a citizen of the country. However, considering the wide ambit of jurisdiction of the Company Law Board in proceedings under Sections 397 and 398 of the Act 2 of 1956 and further considering that Article 19 of the Constitution of India is subject to reasonable restrictions, it does not appear that there is any serious issue which needs to be gone into. APO NO.393 of 2011 and ACO NO.165 of 2010 stand disposed of with liberty to the appellants to apply for vacating the interim order since no affidavit-in-opposition was filed by them before the Company Law Board, but it will be open to the Company Law Board to consider the propriety of such application, if made, uninfluenced by the leave granted by this order.

(2.) THERE will be no order as to costs. Urgent certified photocopies of this order, if applied for, be given to the parties subject to compliance with all requisite formalities.