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2012 (11) TMI 453 - Board - Companies LawSignature on Company Petition - fraud by Petitioners - Held that:- It is not an appropriately constituted petition as the person signing the petition on behalf of Mr. Rupak Gupta Petitioner No. 1 holding 16320 shares of the Company in three different capacities was not duly constituted Power of Attorney of the Petitioners at the time when he signed the petition. Mrs. Supriya Gupta, Petitioner No.2 not being a member of the company was not eligible to file the petition under section 397 & 398 of the Act. Her signing the petition is therefore of no avail. The Petitioners had suppressed material facts and had also made statements on oath which were false to their knowledge. This was done with an intention to gain advantage which would not have been available if true facts were revealed. Elements of Fraud were thus present. The suppression of material facts in the petition and false statements by Petitioner No.l and 2 in their affidavits amounts to an abuse of the process of this Board. By opening the floodgates of affidavits to cover-up or to show that it was a trivial or bona fide error the damage cannot be undone. The Law-firm representing the Petitioners in this petition and one of its Advocates had acted, in the matter of preparing the petition and filing of affidavits, in an irresponsible manner which is appalling and not expected of a Law-firm. False affidavits were sworn on 08/06/2012 by Mr. G.K. Agrawal and notarised by the Notary Shri Dipankar Das. False identification was done by an Advocate representing the Law-firm in the affidavits. Taking a liberal view and granting liberty to the Petitioners Nos. 1, 2 & 4 to file a properly constituted fresh petition subject to cost of Rs. 50,000/- to be deposited within a week with the High Court Legal Aid Committee, New Delhi. The Law Firm and one Advocate had acted in the matter of filing of affidavits in this petition also impose exemplary cost of Rs. 50,000/- on the Law Firm and direct that the cost be deposited within a week from today with the High Court Legal Aid Committee, New Delhi.
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