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Madras High CourtCMA/902/2007disposed of

Shanthini Jayakrishnan v. V. Ramesh Kumar

2016-09-23Honourable Mr Justice Rajiv Shakdher4 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED 23.09.2016

CORAM

THE HONOURABLE MR.JUSTICE RAJIV SHAKDHER C.M.A. Nos.902 AND 1600 of 2007 & M.P.No.1 of 2007 C.M.A.No.902 of 2007

1. Shanthini Jayakrishnan

2. Yuvana Rekha

3. J.Ajay Sivakumar

4. D.Suseendran

5. M.Sivakumar ..

Appellants

Versus

1. V.Ramesh Kumar

2. A.Arumugam

3. A.Raja

4. A.Natarajan

5. Nageshwari 6.E.M.Arumugam 7.A.Nazar 8.Milka Industries Pvt Ltd., 9.V.M.Joseph 10.Raju David 11.G.D.Sekar 12.G.S.Latha 13.G.S.Gayathri 14.G.D.Selvaraj 15.G.S.Suresh 16.K.Palanisamy 17.K.Baskar

18. Joy John 19.S.Sekar

20. M.Ponnusamy 21.P.Jyothi 22.G.Venkateshwari 23.Jayabalan 24.S.Sridhar 25.R.Venkatesh 26.Thangamma Joseph 27.P.Maheshwari 28.M.Subramaniam..

29.Kheebathullah (R6-R29 are deleted from array of Parties Vide order dated 23/09/2016) ..

Respondents C.M.A.No.1600 of 2007 1.Ramesh Kumar 2.A.Arumugam 3.A.Raja 4.A.Natarajan

5. Nageshwari ..

Appellants

Versus

1. Shanthini Jayakrishnan 2.Yuvana Rakha 3.J.Ajai Sivakumar 4.D.Suseendran 5.M.Sivakumar 6.E.M.Arumugam 7.A.Nazar 8.Milka Industries Pvt Ltd., 9.V.M.Joseph 10.Raju David 11.G.D.Sekar 12.G.S.Latha 13.G.S.Gayathri 14.G.D.Selvaraj 15.G.S.Suresh 16.K.Palanisamy 17.K.Baskar

18. Joy John 19.S.Sekar

20. M.Ponnusamy 21.P.Jothy 22.G.Venkateshwari 23.Jayabalan 24.S.Sridhar 25.R.Venkatesh 26.Thangamma Joseph 27.P.Maheshwari 28.M.Subramaniam 29.Kheebathullah (R3 to R29 are deleted from array of parties vide Order dated 23/9/2016) ....Respondents

PRAYER: Civil Miscellaneous Appeal filed under Section 10 F of the Companies Act, 1956, against the order dated 07.03.2007 in C.P.No.44 of 2003 passed by the Hon'ble Company Law Board, Additional Principal Bench, Chennai.

For Appellants (in C.M.A.No.902 of 2007):

Mr.PH. Arvindh Pandian, Sr.Counsel for Mr.Harishankarmani (in C.M.A.No.1600 of 2007):

Mr.R.Vidhya Shankar for M/S.Iyer & Thomas For Respondents :

(in C.M.A.No.902 of 2007) Mr.R.Vidhya Shankar (R1 to R5) for M/S.Iyer & Thomas (in C.M.A.No.1600 of 2007) Mr.PH. Arvindh Pandian (R1 to R5)Sr.Counsel for Mr.Harishankarmani Mr.Vijayakumarfor Mr.V.P.Sengottuvel (R7, R9,R16,R21 & R27) C O M M O N J U D G M E N T

1. Mr.Arvind Pandian, who appears for the appellants in C.M.A.No.902 of 2007 as well as for the respondent Nos. 1 to 5 in C.M.A.No.1600 of 2007, says that the appellants in C.M.A.No.902 of 2007 have arrived at a compromise with the contesting respondents i.e. respondent Nos.1 to 5. In so far as other respondents are concerned, Mr.Arvindh Pandian, on instructions, says that he would drop them from the array of parties.

1.1. The said submission is taken on record. Accordingly, the remaining respondents, i.e., respondent Nos.6 to 29 are deleted from the array of parties.

2. The memo of compromise, which has been filed in Court in C.M.A.No.902 of 2007, records as follows:

"1. The contesting Respondents 1 to 5 (Petitioners) had filed the Company Petition challenging certain transfer of shares made in favour of the Appellants on the ground that under the Articles of Association of the Company, the contesting Respondents had a preemption right to

prorate purchase the said shares and for consequential reliefs.

2. The contesting Respondents hereby record that they have decided to give up their preemption right and consequently are not staking any claim to transfer of any portion of the shares (impugned in the Company Petition), i their favour.

3.

The contesting Respondents accordingly do not have any objection to the Company Appeal being allowed as prayed for. The contesting Respondents are also consequently withdrawing their Appeal in C.M.A.No.1600 of 2007."

3. Consequently, as agreed, appeal in C.M.A.No.902 of 2007 is allowed, while C.M.A.No.1600 of 2007 is dismissed as withdrawn. Resultantly, connected application in M.P.No.1 of 2007 in C.M.A.No.902 of 2007 will stand closed.

4. No further orders are called for. The captioned appeals are, consequently, consigned to record.

Sd/- Assistant Registrar(CS II) //True Copy// Sub Assistant Registrar To 1.The Company Law Board, Additional Principal Bench, Chennai.

2.The Section Officer, V.R.Section, High Court, Madras.

+1cc to M/S.Harishankar, Advocate sr.54303 +1cc to M/S.S.Karthikeyan, Advocate sr.54766 +1cc to M/S.Ramani & Shankar, Advocate sr.55227 C.M.A. Nos.902 & 1600 of 2007 srg 03/10/2016