BIHARI DALWANI Vs. PREMKUTIR (P.) LTD.

JUDGEMENT

(1.) THE petitioners have filed the above captioned company petition under section 111 of the Companies Act, 1956 ('the Act') seeking an order thereby directing the respondent -company to forthwith register transfer/transmission of all the shares corresponding to Flat No. 6B in favour of the petitioners, who are the beneficiaries and lawful owners thereof by operation of law. In order to crystallise the points for determination, I deem it appropriate to refer few facts as set out in the petition as under:

(2.) THE respondent No. 1 -company appeared and filed its reply. In its reply, the respondent No. 1 -company initially challenged the maintainability of the petition and sought its dismissal, inter alia, on the grounds that the petition is barred by limitation; that the reliefs sought by the petitioners related to the question of title of an immovable property and further the complicated question of facts and law involved and, therefore, the parties need to be related to the civil court; that, the petition suffers from nor joinder of necessary parties; that the petitioners have not come with clean hands.

(3.) BASED on the averments made by the parties and the submissions advanced by the learned counsel appearing for the respective parties in support of their cases, the following points arise for determination: