AJAY RASTOGI, J. - (1.) AT the joint request, both these appeals arising out of common disputes have been finally heard and disposed of at admission stage by this order.
(2.) THESE appeals under Section 10F of the Companies Act, 1956 ('the Act') are directed against the interlocutory orders dated August 24, 2007 and September 13, 2007, in Company Petition No. 39 of 2007. Section 10F of the Companies Act, 1956, expressly provides that an appeal would lie to the High Court against the decision or order of the Company Law Board ('the Board') on any question of law arising out of such order. The respondents herein filed company petition before the Board raising grievance about prevention of oppression and mismanagement of the company's affairs by invoking Sections 397 and 398 of the Companies Act, 1956. Pendente lite the company petition, Company Applications Nos. 201 and 202 of 2007 were filed by the respondents herein, on which after hearing both the parties, the Board passed an order dated August 24, 2007 and infra: The pleadings have not been completed as yet as directed by the Company Law Board's earlier orders. The petitioners received the reply to the company petition on August 21, only. Two weeks time is allowed to file rejoinder. The reply to C.A. No. 201 was also filed by the respondents on August 21, 2007. The petitioner is allowed to file rejoinder to the CA. The petitioner filed reply to the respondents' C.A. No. 202 on May 17, 2007. The respondents do not wish to file rejoinder. Heard the parties on opening of bank account with Yes Bank. Operations out of this account are stopped till further orders. Adjourned to September 13, 2007, at 2.30 p.m. For arguments on C.P. and CAs.
(3.) FURTHER , Company Application No. 383 of 2007 was also filed and after hearing both the parties, the Board passed an order dated September 13, 2007, ad infra: C.A. No. 383 of 2007 mentioned that the respondents seek three days time to file reply to the CA. Allowed. Meanwhile, the respondents are restrained from opening any other bank account in respect of the respondent -company. To let the operations of the business of the company continue R1 and P1 are hereby directed to operate the bank a/c other than Yes Bank a/c with their joint signatures only till the disposal of C.P. No. 39 of 2007. Adjourned to November 5, 2007, at 10.30 a.m.;