SHUBHKAM VENTURES (I) (P.) LTD. Vs. MILTON PLASTICS LTD. AND ORS.

JUDGEMENT

(1.) BEING aggrieved from not taking requisite steps by the respondent No. 1 -company and its present management in listing of 32,50,000 shares -in -question (impugned shares) allotted to the petitioner on 6th May, 2002, the petitioner -company ('the petitioner') has filed the present petition invoking the jurisdiction of this Bench conferred upon it by virtue of sections 397 and 398 read with section 402 of the Companies Act, 1956 ('the Act'). The petitioner has sought various reliefs as contained in the petition.

(2.) The facts in brief leading to file the present petition are as follows:

(3.) ON merits, the company stated that no case of oppression and mismanagement is made out on account of non -listing of 32,50,000 equity shares -in -question in the BSE. It is further stated that the petitioner has based his case for oppression and mismanagement on one solitary/isolated act of alleged non -listing of 32,50,000 equity shares allotted to the petitioner in the BSE and, therefore, the petition deserves to be dismissed on this ground alone.