D. SRINIVASAN Vs. H.S. VISWANATH

JUDGEMENT

(1.) THE petitioners reportedly holding in excess of one -tenth of the issued share capital of M/s Daksha Projects Private Limited ("the Company") and aggrieved on account of certain acts of commission and omission in the affairs of the Company namely,(a) illegal transfer of the Company's landed property by entering into a cancellation deed; (b) misappropriation of the amounts realised by way of cancelling the sale deed; (c) holding of annual general meeting without issuance of notices to members ; and (d) illegal shifting of the registered office of the Company, have invoked in the first company petition (CP.No. 13 of 2005), the provisions of Sections 397 and 398 of the Companies Act ("the Act") seeking the following reliefs:

(2.) THE second company petition (C.P. No. 67 of 2005) has been filed for declaration -

(3.) SHRI S.M. Chandrashekar, learned Counsel, while initiating his arguments submitted: