V.P. Singh, Member - (1.) The petitioners have filed C.P. 49/2016 complaining of several acts of oppression and mismanagement perpetrated by respondents in relation to affairs of Gold star Enclave Pvt. Ltd.
(2.) Brief facts of the case are that Gold star Enclave Private Ltd. (hereinafter referred to as the 'Company') was incorporated on 27th May, 2011. The Petitioners were promoters and original subscribers to the Memorandum and Articles of Association of the company and initially the Petitioners controlled 100% shareholding in the said Company. In the year 2011, the Petitioner No. 1 considering the viable business opportunities in acquiring and promotion of the said cinema hall premises in the constructed areas invested in the Company, arranged for funds through companies and entities for the purpose of acquiring the said Globe premises.
(3.) Since the year 1990, Shri Meghraj Daga who was a Chartered Accountant and partner of a firm called S.M. Daga & Co., was very closely associated with the Petitioner. M.R. Daga was closely associated with Petitioner No. 1 and was also Financial and Tax Consultant of the Petitioner in addition to being the statutory auditor of the Company since its inception, by virtue of which the Petitioners had reposed complete faith and trust in M.R. Daga in connection with all their financial matters. M.R. Daga firm was also statutory auditor of the company since the inception of the company. R2 is the son of late Shri M.R. Daga who is also a Chartered Accountant who also became close and trusted Advisor to the Petitioners in relation to all financial matters.;