ABDUL SABIR Vs. NIRMAL AND NAVIN (P.) LTD.

JUDGEMENT

(1.) IN this order, I am considering the company petition being CP No. 751/2011 filed under sections 397, 398, 402 and 403 of the Companies Act, 1956 ('the Act'). Briefly, the main averments and the challenges made in the petition are as under:

(2.) DURING the course of hearing, learned counsel of the petitioners briefly has made the following pleadings to substantiate the case of the petitioners:

(3.) LEARNED counsel of the respondents has raised the following proposition of law arising out in the company petition being CP No. 751/2011: