LAWS(P&H)-1990-4-10

R P VERMA Vs. AANAAM PVT LTD

Decided On April 12, 1990
R P VERMA Appellant
V/S
AANAAM PVT LTD Respondents

JUDGEMENT

(1.) IN this petition under Sections 397, 398 and 433 of the Companies Act, 1956, the following prayers have been made : (i) To require respondents Nos. 2 to 10 to transfer their shares in the company to petitioners Nos. 1 and 3 and/or to their nominees at a value to be fixed by the court in this behalf. (ii) To remove respondents Nos. 2 to 10 from the directorship of the company ; or, (iii) Alternatively, to wind up the company. (iv) To pass such order or orders as this hon'ble court deems fit in the circumstances of the case.

(2.) SINCE the stand of the petitioners was contested by the respondents, the parties, vide order dated September 22, 1989, were put to trial on the following issues : (1) Whether the affairs of the company are being conducted in a manner which is oppressive to the petitioners ? (2) Whether the affairs of the company are being conducted in a manner prejudicial to the interest of the company ? (3) Whether a joint petition under Sections 397, 398 and 433 of the Companies Act is not maintainable ? (4) Whether the relief of rectification of the register of shareholders cannot be claimed in the instant petition ? (5) Whether the petition has been presented by the petitioners who do not qualify the test laid down in Section 399 (l) (a) of the Companies Act ? (6) Relief.

(3.) THE petitioners were further directed to produce their evidence on November 3, 1989, As no evidence was produced on that date, it was adjourned to December 12, 1989, for the said purpose. On the said date, they filed the present application and raised the plea that: "the Companies (Court) Rules, 1959, do not envisage oral evidence in company petitions and envisage that facts and documents shall be proved by affidavits with right to parties to file affidavits, counter-affidavits and reply affidavits, so that petitions can be decided on the basis of affi davits. "