Rajeswara Rao Vittanala, Member - (1.) The Company Petition bearing No. 37 of 2009 (herein after referred as Company Petition) was filed before the then Hon'ble Company Law Board, Chennai Bench, Chennai (CLB) by Mr. A. Sudhakar Reddy and 2 others on 08.06.2009, under Section 397, 398 r/w. 402 Schedule XI, Section 111 And other applicable provisions of the Companies Act, 1956.
(2.) The Company Petition was taken up by the then CLB from time to time and adjourned the matter on several occasions in order to give opportunity to the parties to settle the issues among themselves. However, the case was neither settled nor disposed of by CLB. On the constitution of NCLT Bench at Hyderabad for the States of Andhra Pradesh and Telangana, the case was transferred to this Bench in July, 2016. Accordingly, the case was taken on the records of NCLT, Hyderabad Bench to decide the case. The case was posted before this Bench from time to time i.e. on 22.07.2016; 03.08.2016; 09.09.2016; 15.09.2016; 20.09.2016; 29.09.2016; 07.10.2016; 18.10.2016; 28.10.2016; 25.11.2016; 07.12.2016; 08.12.2016; 09.01.2017; 18.01.2017 and finally on 25.01.2017.
(3.) The CLB passed an interim order dated 22.06.2010 by directing the respondents to restrain from executing any deed of sale or other documents in respect of the property located at Roorkee in Uttarakhand State and thus sale deed for the said property was not executed since the case is pending before the CLB/NCLT till date.;