AMBIKA PRASAD MODI Vs. ROADCO INDIA PRIVET LTD

JUDGEMENT

(1.) THIS appeal is directed against an order dated 3rd December, 2007 passed by the Hon'ble Single Judge dismissing an application of the appellant for recalling of an order dated 16th January, 2003. By the said Order dated 16th January, 2003, the Hon'ble Court granted sanction of the scheme of amalgamation of the respondent Nos. 2 to 7 with respondent No. 1.

(2.) THE facts revealed in this case that on February 26,2002, a meeting was convened on the equity shareholders of respondent Nos. 2 to 7. The appellant challenged the said amalgamation on the ground that no notice was served as directed in clause 8 of the order dated 26th February, 2002 and that in terms of clause 16 of the said order the Chairpersons appointed for the meeting or any person authorized by him to issue or send notice of the meeting to the shareholders. Further, in terms of clause 18 of the said order it provides that the quorum for the meeting of the shareholders shall be 3 persons either personally or by proxy.

(3.) IT has been held that no notice was served on any of the shareholders or in terms of the said order and the meeting took place as it was directed. Resolutions were submitted to show that the limited share-holders being present are invalid and fraud was perpetuated on this Hon'ble Court which would be apparent from the records and the respondents are guilty in suppression of facts in obtaining the order of sanction.