V.P. Singh, Member - (1.) As per averment in the petition, Petitioner No. 1, Mr. Arvind Parasramka has contended that he has 500 shares which he acquired by purchase from the respondent No. 6 amounting to 0.91% of the total issued equity shares in the Respondent No. 1 Company. Petitioner No. 2, Bhubnesh Commercial Private Limited has purchased 1700 shares in respondent No. 1 company from respondent No. 7 being 3.01% of the total issued equity shares. Petitioner No. 3, Siemen Syntex Private Limited, has purchased 1800 shares in respondent No. 1 Company from respondent No. 8 being 3.28% of total issued equity shares. Meghdoot Services Limited, the petitioner No. 4 is holding 3,875 equity shares in the respondent No. 1 company being 7.05% of the total issued equity capital. It has been stated that the respondents have purportedly showing that the petitioner No. 4 is holding 2,875 equity shares instead of 3,875 equity shares.
(2.) The petitioners have contended that they are holding 14.25% of equity shares in the respondent No. 1 Company and contended that the petitioners are entitled to file petition under Section 397 and 398 of the Companies Act 1956 in accordance with Section 399 of the Companies Act.
(3.) It has been stated in the petition that the respondent Nos. 2, 3, 4 and 5 are the Directors of the Respondent No. 1 Company and are principal persons in control of management and affairs of the respondent No. 1 within the meaning of Section 6 of the Companies Act, 1956. The respondent Nos. 4 and 5 together jointly holding 5000 equity shares in the company amounting to 10% of the total issued share capital.;