9911796707
|
Home
Issues: Appeal against interim order passed by Company Law Board under sections 397 and 398 read with sections 402 and 403 of Companies Act regarding operation and mismanagement.
Analysis: 1. The appeal was filed under section 10F of the Companies Act, 1956, challenging the interim order dated 4-6-2007 passed by the Company Law Board. The respondent had filed a company petition under sections 397 and 398 of the Companies Act, alleging operation and mismanagement. The Board passed an interim order on 4-6-2007 after considering the material. Additionally, a separate Company Application No. 177/07 had another order passed on 11-5-2007, which was challenged by the appellant in Company Appeal No. 5/07. The appellant was granted liberty by the court to raise objections, including jurisdiction of the Company Law Board in passing interim orders. 2. The respondents filed a reply to the appeal, informing the court that Company Petition No. 67/06 had been heard, and parties were directed to submit written arguments. The matter was scheduled for final hearing before the Board on 22-1-2008. The appellant's counsel raised objections to the interim order dated 4-6-2007, contending that they were based on factual appreciation. The counsel was advised to file an application for vacation or modification of the interim order, as the appeal under section 10F of the Companies Act could only be filed against orders involving questions of law. 3. Upon hearing the parties, the court found no question of law arising from the impugned order dated 4-6-2007. Consequently, the appeal was dismissed. However, the appellant was granted liberty to raise objections by filing a proper application before the Company Law Board.
|
