R.P. Nagrath, Member - (1.) Respondent No. 1 is a private limited company incorporated on 08.06.1995 with the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh, Annexure A-1 is the copy of Certificate of Incorporation accompanied with the Memorandum and Articles of Association.
(2.) The company was formed with the main objects of carrying on the business of processing/shelling and marketing of par boiled paddy and rice including any of its by-products and to process, manufacture and market other commodities and products of agriculture and agricultural produce; to buy, sell, import, export, manipulate, convert and prepare for market and deal in all kinds of food grains like paddy, rice, wheat etc.
(3.) The instant petition has been filed under Sections 397, 398 read with Sections 237, 402 and 403 of the Companies Act, 1956 (for short to be described here-in-after as 'the Act') alleging acts of oppression and mis-management committed by the respondents. These acts commenced by illegal transfer of 1000 equity shares in respect of each of petitioner No. 1 (P-1) and petitioner No. 2 (P-2) and 3500 equity share of petitioner No. 3 (P-3) without their consent and knowledge. The copies of the share certificates held by these petitioners are at Annexure A-2. P-3r who died during the pendency of the instant petition, is the father of P-1 and P-2. Information about death of P-3 was supplied to the Tribunal by P-1, who recorded his statement before the Tribunal on 14.12.2016 to the effect that P-3 died on 01.10.2013.;