JIWAN MEHTA Vs. EMM BROS FORGINGS P LTD

JUDGEMENT

(1.) The present is an appeal under Section 10-F of the Companies Act, 1956 (for short 'the Act') against the order dated 20.11.2007 passed by the Company Law Board, Principal Bench, New Delhi (for short 'the Board'), dismissing the petition filed by the Appellant under Sections 397 and 398 read with Sections 402 and 403 of the Act.

(2.) The Appellant has averred that Respondent No. 1 M/s Emm Bros Forgings (P) Ltd., is a Company with limited liability incorporated under the Act. The Appellant is said to be possessed of 67590 fully paid up equity shares representing 15.36% of the total paid up share capital. Respondent Nos. 2 to 4, are said to be Directors along with the Appellant, whereas Respondent No. 4 is the Chairman of the Company. It is pleaded that M/s Emm Bros Wires and Strips Ltd. was established in the year 1989 and subsequently, another Company Emm Bros Metals Pvt. Ltd. was established in the year 1991 and the Respondent-Company in the year 1994. As per the Appellant, the share holding pattern of Respondent No. 1-Company prior to 2000 is said to be as under:

(3.) The shareholding pattern has undergone change and as per the annual report as on 29.9.2000, the shareholding pattern is as under: