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2007 (9) TMI 419 - HC - Companies LawOppression and mismanagement - whether the suit as framed is not maintainable in view of the provisions of sections 397 to 407 of the Companies Act ? - Held that:- Whether some of the properties of the companies have been misappropriated and transferred by defendants Nos. 1 to 6 for their personal use and could not be transferred are also such disputes which cannot be determined by the company court under the provisions of the Companies Act, 1956. For partitioning of the assets of the companies, defendants Nos. 7 to 12, after determination that they were started from the assets of common ancestor and the share of the plaintiff if dissolution of the companies is required for which invocation of the company court may be required, the civil suit for partition will not be completely barred. Therefore it cannot be inferred that the suit of the plaintiffs is barred under sections 397 to 407 of the Companies Act, 1956. In the circumstances, the preliminary issue framed on November 14, 2002, "Whether the suit as framed is not maintainable in view of the provisions of sections 397 to 407 of the Companies Act," is decided against the defendants holding that the suit of the plaintiffs is not barred and is maintainable. The said issue is thus decided accordingly. Since it is held that the suit is maintainable, learned counsel for the defendants seek time to file the documents. Original documents or certified copies of documents, if not already filed be filed within four weeks.
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