SATWINDER SINGH Vs. ASHISH DASSGUPTA AND ORS

JUDGEMENT

(1.) This appeal was admitted vide order dated 8th November, 2001 impliedly, on the following substantial questions of law:

(2.) We have heard the learned Counsel for the parties and perused the record.

(3.) Factual matrix of the case, relevant for deciding the appeal, may be noticed. There is a Company, by the name and style of M/s Parwanoo Enterprises Private Limited. Respondent Ashish Dasgupta claiming himself to be the holder of 2000 shares in his individual name and 2000 shares in the joint names of himself and appellant Satwinder Singh, filed a petition under Section 186 of the Companies Act, before the Company Law Board, seeking a direction for holding of annual general meeting. Present appellant was impleaded as one of the respondents. It was alleged in the petition that the affairs of the Company are not being managed properly, the share-holders are not cooperating and, therefore, annual general meeting was required to be called. It was pleaded that there are only two share-holders i.e. respondent Ashish Dasgupta and present appellant Satwinder Singh. The petition was filed sometime in the year 1988. Notice was sent to the present appellant, who, in his reply, took the plea that the sharing pattern, as disclosed in the petition, was contrary to the actual position. He claimed that prior to 6.10.1995, the sharing pattern was as follows: <FRM>JUDGEMENT_69_LAWS(HPH)10_22009.html</FRM>