The companytention of the 1st respondent before the Company Court was that the shares allotted to the appellant were, inter alia, in companytravention of the injunction issued by the City Civil Court.
22 of 1994 in a petition seeking sanction of Amalgamation Petition under Section 391 of the Companies Act.
Even in the said appeal the appellant was number made a party.
However, the Learned Single Judge gave a finding that the allotment of shares in favour of the appellant was in breach of the injunction order of the City Civil Court.
The allotment of the said shares was challenged by 3 members of the M.I.L. in 2 suits in City Civil Court, Ahmedabad being Suit No.
3181 of 1987 and Suit No.
Hence, the objection of the 1st respondent in regard to the proposed Scheme of Amalgamation was number sustainable.
The plaintiff in that suit obtained an order of interim injunction from the City Civil Court, Ahmedabad, inter alia directing MIL to maintain status quo in respect of the allotment of shares, said order was made on 27 6 1987.
Against the said order, the 1st respondent herein and MIL filed original appeal OJ No.
Certain shares of M.I.L were allotted to the appellant.
During the currency of the said interim order the MIL made a Rights Issue which doubled the holding of the appellant herein bringing the title holding of the appellant in MIL to about 3 of the total shareholding.
The Appellate Bench dismissed the challenge of the 1st respondent for the grant of approval to the Amalgamation Scheme but companyfirmed the findings of the Trial Court that the allotment of the shares in favour of appellant by the MIL was in companytravention of the injunction order.
16 of 1994 and cross appeal before the Division Bench of the said High Court.
3182 of 1987.
MIL made an application for approving a Scheme of Amalgamation before the Company Court of the Gujarat High Court under Section 391 of the Companies Act in the month of November, 1994.
The appellant herein was number a party in that suit.
With C.A. No.
4798/1997 SANTOSH HEGDE, J. CA No.4796/97 This appeal with permission of this Court has been filed by the appellant against a judgment of the High Court of Gujarat at Ahmedabad whereby a cross objection filed in O.J. Appeal No.
In the said petition for approving the Amalgamation Scheme, the first respondent herein questioned the allotment of shares by MIL to the appellant herein.
22 of 1994 by Mafatlal Industries Limited MIL the appellant in the companynected appeal herein was dismissed, companyfirming certain finding given by the Learned Company Judge in Company Petition No.
4797/1997 and C.A. No.
Though, such allotment was made very much earlier to the proposed Amalgamation Scheme.
16 of 1994 in Company Petition No.
Brief facts necessary for the disposal of this appeal are as follows The appellant herein is a Public Limited Company having its registered office in Mumbai.
