RAJ SHEKHAR AGRAWAL Vs. PRAGATI 47 DEVELOPMENT LTD.

JUDGEMENT

(1.) THE applicants, petitioners in the main petition, filed this application with a prayer to abandon the main reliefs (n) to (r) and the interim prayer (k) in the main petition with a liberty to initiate fresh proceedings before a civil court over the issue dealt with in reliefs supra. The case of the petitioners in the main petition is that R -2 and 3 along with other respondents have been acting prejudicial to the interest of the petitioners attracting the ingredients of section 397/398 of the Companies Act, 1956 ('the Act'). In the main petition, the petitioners arrayed various companies as respondents saying some respondent -companies are sister concerns of R -1 -company and some are connected with the business of R -1 -company seeking various reliefs including the reliefs, which the petitioners now asking for deletion with a liberty to initiate fresh proceedings. The main reliefs (n) to (r) and interim relief (k) are as follows :

(2.) NOW the grievance of the petitioners in this application is that they have come to know that the reliefs sought (n) to (r) are complex in nature and they require some more information to establish the fraud played upon them by the respondents. Having seen the respondents filed CA No. 235/2010 in CP 509/2010 moved by respondent Nos. 2 and 3, the petitioners say that they learnt that the respondents committed fraud more than what mentioned in the main petition and the reliefs (n) to (r), thereby they say that these reliefs are deserved to be dealt with by a fact finding court on trial, hence, sought for deletion and liberty to initiate proceedings before civil court.

(3.) THE respondents 2, 3 and 16 filed their counters opposing to grant leave to initiate proceedings before another forum on the ground that the main petition moved by the petitioners itself is false and fabricated, not maintainable in the eye of law. They further submit that the respondents will have no objection for abandoning these prayers from the main petition if liberty is not granted to initiate separate proceeding against the reliefs (n) to (r) for having these petitioners already caused enough damage to the progress of the company by these malicious proceedings against the respondents.