(1.) Heard Mr. G.N. Sahewalla, as well as Mr. Ratnanko Banerjee, learned senior counsels appearing for the appellants/ petitioners. Also heard Mr. P. Chatterjee, Mr. S. Dutta and Mr. R. Bachhawat, learned senior counsels representing the respondent Nos. 1 to 15 in the Company Appeal as well as the Revision Petition. None appeared for the remaining respondents.
(2.) The Company Appeal has been filed under Section 10(F) of the Companies Act, 1956 challenging the judgment and order dated 27/07/2015 passed by the learned Company Law Board, Calcutta Bench in C.P. No. 143/2015 by means of which an adinterim order has been passed directing the parties to maintain status quo as regards the share holding of the Company and the composition of the Board of Directors besides restraining both the rival groups from creating further third party interest over the fixed assets of the company without the leave of the Company Law Board ( Here-in- after referred to as CLB).
(3.) The appeal was admitted by this Court to be heard on the following questions of law :-