- (1.) The appeal is directed against the judgment and order of the Learned Single Judge dated 2nd December 2011. The Learned Single Judge has rejected the application filed by the appellant for recalling the order dated 13th May 2003 passed in C.P. No. 594 of 2002, sanctioning a Scheme of Arrangement. The appeal is also directed against the order allowing the application filed by Castron Mining Limited for implementation of the aforesaid scheme.
(2.) The facts giving rise to the present appeal are as follows: Castron Technologies Limited (hereinafter referred to as C.T.L.) and Castron Mining Limited (hereinafter referred to as C.M.L.) are companies run by members of the Agarwalla family who are the shareholders of the companies. C.T.L. applied for the grant of a lease of a coal mine known as the Brahmadiha coal mine located in the state of Jharkhand on 18th April 1996. It was agreed under a family arrangement entered into on 26th May 1999 that the mining lease which C.T.L. had applied for would be assigned in favour of Parameshwar Kumar Agarwalla or his nominees. By the family arrangement it was decided that in case the lease of the coal mine was granted in favour of C.T.L. the Directors of C.T.L. would assign and transfer the right, title and interest in the lease hold property in favour of C.M.L., which is the transferee company. A joint petition was filed on 8th March 2002 by C.T.L. and C.M.L. under Sections 391 and 393 of the Companies Act, 1956 for sanctioning the Scheme of Arrangement in view of the family arrangement between the parties. A mining lease was executed in respect of the aforesaid coal mine in favour of C.T.L. on 18th June 2002 by a registered deed. The Scheme of Arrangement was not opposed by the Regional Director, Department of Company Affairs and, therefore, it was sanctioned on 13th May 2003 and came into effect from 31st October 2001 which was the appointed date. The recitals of the Scheme indicate that the mining lease had not been granted to C.T.L. till the appointed date. The parties, thereafter, took the necessary steps for transferring the mining lease of C.T.L. to C.M.L. A letter was written by the Director of C.T.L. on 2nd July 2004 to the Secretary, Department of Mines and Geology, Government of Jharkhand requesting for permission to transfer the lease held by C.T.L. to C.M.L. in view of the Scheme of Arrangement sanctioned by this Court. The Deputy Commissioner, Giridi issued a letter to the Director of Mining, Department of Mining and Geology, Government of Jharkhand recommending the transfer of the Mining lease in favour of C.M.L. On 25th May 2005, C.T.L. informed the Government of Jharkhand of their intention to withdraw their application for transfer of the Coal Mining lease in favour of C.M.L. A similar letter was addressed to the District Mining Officer Giridi. A Writ Petition was filed by C.T.L. in the High Court of Jharkhand being WPC No. 3961 of 2005 seeking a direction against the respondents therein to dispose of the application for withdrawal of the transfer of the mining lease. The writ petition was dismissed as the Court was of the opinion that unless the order passed by this Court sanctioning the scheme was modified, no relief could be granted to the petitioner by the Jharkhand High Court.
(3.) On 28th March 2006 an application was submitted before this Court signed by Mahendra Kumar Agarwalla purportedly acting on behalf of the C.T.L. and C.M.L. for recalling the order sanctioning the Scheme of Arrangement. This application was registered as C.A. No. 209 of 2006. C.M.L. filed an application later, being C.A. No. 667 of 2006, for implementation of the same scheme.;