APOLLO TYRES LTD. Vs. NARINDER JEET KANWAR

JUDGEMENT

(1.) IN this company petition (C.P. No. 99 of 2007) filed by Narinder Jeet Kanwar (NJK), invoking the jurisdiction under Section 237(b) of the Companies Act, 1956 ("the Act") for an order of investigation in the affairs of M/s. Apollo Tyres Ltd. ("the company"); and (i) M/s. Sunrays Properties and Investment Co. P, Ltd. ; (ii) M/s. Neeraj Consultants Ltd.; (iii) M/s. Raunaq Finance Ltd. ; (iv) M/s. Sacred Heart Investment Co. P. Ltd. ; (v) M/s. Omex Investment and Finance Ltd. ; (vi) M/s. Juhi Investment Co. P. Ltd.; and (vii) M/s. Swarnganga Consultants P. Ltd. (respondents Nos. 5 to 11), owned by respondents Nos. 2, 3 and 4, being the chairman cum managing director, whole time director and director, respectively, of the company, respondents Nos. 1 to 4 have filed the present applications, namely, C. A. Nos. 226, 234 and 249 of 2007, challenging the locus standi of NJK, not being a member or creditor of either the company or respondents Nos. 5 to 11 to invoke Section 237(b) of the Act and, are therefore, seeking dismissal of the company petition, as being not maintainable, in support of which Shri Sudipto Sarkar, learned senior counsel, submitted as under:

(2.) SHRI U.K. Chaudhary, learned senior counsel, while opposing the prayer of the applicants for dismissal of the main petition, at the threshold, submitted as under:

(3.) I have considered the elaborate arguments of learned senior counsel. While NJK is praying for an order of investigations in the affairs of the companies, being respondents Nos. 1 and 5 to 11, the applicants are questioning the locus standi of NJK to invoke Section 237(b) of the Act. The main petition is sought to be rejected in limine and, therefore, the circumstances warranting any investigation in the affairs of the companies and the locus of NJK to employ Section 237(b) need to be examined: