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2011 (1) TMI 1200 - HC - Companies LawTransfer of shares - Defendant No. 1, which is a company, was allotted 12,000 sq. meters of land by Rajasthan State Industrial Development and Investment Corporation Ltd. (RIICO) for setting up a hotel - In MOU it was mentioned that loan amount was for 50 per cent shares of defendant No. 1 - Plaintiffs allotted 10,000 shares to defendants by increasing authorised share capital - The plaintiffs have sought a declaration that defendants 2 & 3 are neither shareholders nor directors of defendant No. 1. They have also sought a direction to defendant Nos. 2 & 3 to deliver the original share certificates for the purpose of cancellation. The plaintiffs have also sought an injunction restraining defendants 2 & 3 from representing or holding out of themselves as shareholders or directors of defendant No. 1 or acting on its behalf besides injunction against interference by them in the affairs of defendant No. 1.
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