9911796707
TMI Blog2011 (2) TMI 1267X X X X Extracts X X X X X X X X Extracts X X X X ..... the company to carry on all or any of the business of designing, planning and/or construction of apartments, bungalows, residential houses, housing colonies, factories, public buildings, multi-storeyed buildings, schools, colleges, community halls, shopping complexes or to carry on business as civil, mechanical, electrical, water supply and sanitary contracts, architects, designers, etc. The petitioner has produced the copy of the memorandum and articles of association at annexure A. 3. The land bearing S. No. 172 presently numbered as S. No. 190 measuring 2 acres 10 guntas was an agricultural land situated within the village limits of Kethamaranahalli, Yeshwanthapura Hobli, Bangalore North Taluk and it was granted by the Government of Ka ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the petitioner was allotted the above said site towards his share in the joint family properties and thereby, the petitioner claims to be the absolute owner of the site referred to supra. 7. In the year 1964, the then City Improvement Trust Board, i.e., the Bangalore Development Authority notified the above said land in S. No. 172 for acquisition for the purpose of formation of West of Chord Road, 2nd Stage, 2nd Phase Layout (Near Nandini Talkies) and for a play ground and providing civic amenities. The preliminary notification was issued on 2-3-1964, in the Karnataka Gazette and the final notification dated 18-11-1967, was also published in the Karnataka Gazette. The then City Improvement Trust Board had taken possession of the land acqu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icers of the Bangalore Development Authority pulled out the fence erected and demolished the construction and in these circumstances, the petitioner claims that he is entitled to recover the loan due to him by fraudulent act of the company and its directors. 11. Respondent No. 1 company closed the business by use of the scheme registered by the Register of Companies and respondent Nos. 2 and 3 actively participated in the affairs of respondent No. 1 and being the directors of the company, the petitioner claims that they are also liable to make good the loss sustained by the petitioner. In view of the closure of the company, the name of respondent No. 1 was deleted from the register of respondent No. 4 and it is in these circumstances, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nor this court has jurisdiction to entertain the petition as it is the Tribunal which has got the jurisdiction to pass such orders and furthermore, that there is defective cause title and the company is not represented by the directors. 16. It is not in dispute that the petitioner is one of the persons to whom the site was allotted and ultimately, the nine sites allotted by the company were in the possession of the petitioner and when the land on which the sites have been formed have been acquired by the City Improvement Trust Board long back, the company had no title to sell the said sites either to the petitioner or any other person. In the circumstances, the sale deed executed by the company in favour of the petitioner and others have n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d, it is to be considered as the court which is under the Act till the amended Act is given effect to. 19. Though it is contended that the share capital of the first respondent-company is less than Rs. 1 lakh, as could be seen from the memorandum of association of respondent No. 1 company, in clause 3(a) it is clearly mentioned that the share capital of the company is Rs. 25,00,000 divided into 2,500 "A" class equity shares of Rs. 100 each and Rs. 2,250 "B" class equity shares of Rs. 1,000 each. In the circumstances, it was not necessary for the petitioner to approach the District Court and the petition filed before this court is legal and valid. 20. As the company became defunct in the year 2004, the petitioner has acquired a right to re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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