1989 (6) TMI 247

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....for the Petitioner. J.S. Narang for the Respondent. JUDGMENT Company Petition No. 100 of 1988 has been filed under sections 397 and 398 of the Companies Act by one set of shareholders. Along with that petition, Company Application No. 196 of 1988 was filed for restraining the respondents from transferring the assets of the company. That company application came up for motion hearing on No....

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.... motorable. These were made motorable on making considerable investment The applicant further states that after they had purchased the shareholding, the company purchased about 26 buses and that at present a fleet of 52 buses is operating. Mr Baldev Kapoor, on getting instructions from his client, present in court today, states that four new buses will be added on June 3, 1989 and three more buses....

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....f the company, of the shareholders and of the purchasers, the following directions are given: (i)The buses will be sold by private negotiations in the presence of the Local Commissioner appointed by this court. The Local Commissioner will ensure that the sale price received from the prospective purchasers is deposited in a scheduled bank ; (ii) the clients of Mr. Baldev Kapoor will intimate ....