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TMI Blog2012 (9) TMI 641X X X X Extracts X X X X X X X X Extracts X X X X ..... e company petition - amendment does not cause any prejudice to the respondents or to Star Light as they would have sufficient opportunity to contest the issues raised by the amendment - CO. PETITION NO. 35 (ND) OF 2010 - - - Dated:- 29-11-2011 - D.R. DESLUNUKH, J., J. U.K. Chaudhary and Rajnish Sinha for the Petitioner. Vibhu Bhakru, Atul Sharma, Abhishek Rao and P.K. Dhingra for the Respondent. ORDER 1. This order governs CA No. 747 of 2010 and CA No. 748 of 2010. 2. Company Application No. 748 of 2010 is for impleadment of Star Light Credit (India) Ltd. (hereinafter referred to as Star Light) as a respondent on the ground that 42,57,600 equity shares held by P-13, i.e., International Commenter Limited (hereinafter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2010. It would, therefore, be unjust to direct the petitioner P-13 and P-14 to file a separate petition for the reliefs sought by Company Application No. 747 of 2010 and Company Application No. 748 of 2010. It is incorrect to say that issue of transfer of shares held by P-13 and P-14 in R-l to Star Light and R-2 respectively could only be alleged as an act of oppression in P-13 and P-14 companies by a separate company petition as it relates to the affairs of P-13 and P-14 companies only. ( d ) Since 42,80,000 shares held by R-13 are prima facie held as collateral security with [TFCI and it is sought to be averred that physical transfer of 42,57,500 shares has not taken place in favour of Star Light a serious question of law would arise w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by Company Application No. 747 of 2010 is imperative for proper and effective adjudication of the company petition. ( g ) It cannot be said that the application for amendment as also the application for impleadment of Star Light suffers from mala fides. ( h ) The proposed amendment does not change the nature and character of the company petition. ( i ) The amendment does not cause any prejudice to the respondents or to Star Light as they would have sufficient opportunity to contest the issues raised by the amendment. ( j ) Refusal of amendment sought would lead to multiplicity of litigation. 5. For the above reasons applications Company Application No. 747 of 2010 and Company Application No. 748 of 2010 are allowed. 6. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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