RISING FINANCE LTD. Vs. ALLIED SECIN VENTURES P. LTD.

JUDGEMENT

(1.) M /s. Rising Finance Ltd., formerly known as Allied Finance Ltd., a company registered in Hongkong (petitioner No. 1) and Mr. Kamal Tourani (petitioner No. 2) said to be the director/shareholder of the company referred above and also said to be the power of attorney holder of the above referred company filed a petition under Section 186 of the Companies Act, 1956, before this Bench. These parties will be referred to as petitioners Nos. 1 and 2, respectively. The petition referred to above has three respondents, namely, Allied Serin Ventures P. Ltd., as respondent No. 1, Mr. Ramchandra G. Tourani as respondent No. 2 and Mrs. Renuka R. Tourani, as respondent No. 3. Respondent No. 1 is the registered company having its registered office at D -707, "Karan", Off Vari Road, Versova, Andheri (West), Mumbai -400 061. The authorised capital of the company is Rs. 1,50,00,000 divided into 1,50,000 equity shares of Rs. 100 each. Petitioner No. 1 holds 1,45,000 equity shares and respondents Nos. 2 and 3 hold 303 shares in the paid -up capital of Allied Secin Ventures P. Ltd., respondent No. l. The respondents in their reply have not denied or objected to the above referred shareholding pattern.

(2.) THE petitioners in their petition prayed for the following reliefs:

(3.) AT the time of passing the said interim order it was clarified by this Bench to counsel for the petitioner that this Bench has no powers to force any shareholder to attend any meeting against his will and in view of this no such order has been passed even though prayed for. However, parties to the petition have been ordered to file their replies and rejoinder if any and come before this Bench for final hearing on April 8, 2008.