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2022 (6) TMI 1424 - BOMBAY HIGH COURTBank is a nominee or transferee of the shares or not? Seeking an injunction restraining defendant nos. 1 and 2 and their servants and agents from participating in an Extraordinary General Meeting (EGM) of the defendant no.3 (Company) scheduled on 24th June, 2022 and from exercising any right including voting rights in respect of the suit shares - seeking permission to exercise voting rights in respect of the suit shares at the said EGM - seeking restraint on defendant nos. 1 and 2 and their servants and agents or nominees from interfering or seeking participation in the management of the affairs of the Company. HELD THAT:- That interim application was scheduled to be heard by this court but was withdrawn only to pursue a Review Petition in view of certain additional facts that had come to the knowledge of the applicant. The plaint was amended and the Review Petition is pending. There was a controversy whether the Review Petition was moved at all, but today it is pointed out that the Review Petition has been listed on board. There is no reason why the plaintiff/applicant has not moved that court since the issue is sought to be reopened on the basis of additional disclosures and fact thus their application could have been made in the Review. However, despite pendency of the Review Petition, the attempt of the applicant is now to once again seek relief which was part of IAL 4778 which was withdrawn - no case is made out for ad-interim relief on the basis of the arguments advanced - The Review Petition continues to be pending. Contentious issues have been raised as to the legal capacity of the bank since the applicant has contended that the bank is not a nominee but an alleged transferee. The applicant has not made out a prima facie case nor is the balance of convenience favouring grant of relief. No irreparable harm is likely to be caused to the plaintiff/applicant. There is no occasion to once again consider grant of relief which was part of IAL 4778 which was consciously withdrawn to pursue the Review Petition which is still being pursued. Ad-interim relief is refused - List per CIS.
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