Ground for public interest litigation
Querist :
Anonymous
(Querist) 27 September 2011
This query is : Resolved
PLEASE TREAT THIS AS WITHDRAWN
ajay sethi
(Expert) 27 September 2011
what is evidence on record that property worth crores is being sold for a pittance ?
if it is being sold in such a fashion rest of amount must have been taken in cash .
you will have to move the company law board for prevention of oppression and mismanagement under section 397 and section 398 of companies act
Ravi Shankar Taneja V. Motherson Triplex Tools (P) Ltd. – (2001) 4 CLJ 102 (CLB) – to show that in case of allegations of mismanagement, siphoning off of funds without giving any particulars or details, no adjudication on these issues is possible on the basis of suspicion and surmises;
(ii) Allianz Securities Ltd. V. Regal Industries Ltd. – (2001) 4 CLJ 314 (CLB) – to show that the allegation of diversion and siphoning of funds for personal use without particulars substantiating such allegations cannot be taken cognizance by the CLB; and
(iii) Jaladhar Chakraborty and others Vs. Power Tools And Appliances Co. Ltd. And others - (1994) 79 CC Page 505 – to show that the acts of oppression must not only be alleged with sufficient particulars, but they must
also be proved to the satisfaction of the Court.
prabhakar singh
(Expert) 27 September 2011
Well explored by Expert ajay sethi
Querist :
Anonymous
(Querist) 27 September 2011
transaction in form of registered deed of sale / deed of conveyance- wherein the market value for stampduty exceeds three crores but set forth consideration is 25 lakhs only.
secondly a property worth 40 lakhis given on lease to former directors huf for a meagre monthly rent of rupees 250/- and a premium non refundable of 50,000/-
who can approach the clb.
anyone from public or shareholder only
what about p.i.l
Raj Kumar Makkad
(Expert) 27 September 2011
The evidence is sufficient. You may even go to high court for liquidation of company and immediately obtain stay and reversal of all fraudulent transactions ..
Querist :
Anonymous
(Querist) 28 September 2011
who can approach the clb.
anyone from public or shareholder only
what about p.i.l
prabhakar singh
(Expert) 29 September 2011
"Public Interest Litigation is a RULE OF DECLRED LAW by the Courts of Record .However, the person or entity filing the petition must prove to the satisfaction of the court that the petition is being filed for a larger public interest."
Here it can not be said safely that it is the
interest of public at large that is affected but only interest of share holders from public is affected,hence it is doubted,that court will entertain a p.i.l.
Advocate. Arunagiri
(Expert) 29 September 2011
Only the shareholders of the company can prevent the sale of property, a third party cannot do it.
This matter will not come under PIL.
Querist :
Anonymous
(Querist) 30 September 2011
p.i.l. -- for protecting the interest of the families of the victims of the fire accident.
the sale, apparently grossly undervalued, has a hidden motive to outsmart the judiciary by cleaning the coffers before verdict, in which award of compensation is possible, is given.
