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2017 (6) TMI 958 - Tri - Companies LawMaintainability of the Petition on the ground that the Petitioner was not holding a single share on the date when the Petition was filed in the year 2013 - Held that:- On examining of the facts along with the case laws it is evident that the Petitioner has not proved to the hilt the ownership or the possession on the requisite number of shareholding on the date of filing of the impugned Petition. The law is unambiguous that if the Petitioner had failed to demonstrate the requisite number of shareholding as prescribed under the law then debarred by operation of law to pursue such Petition. Elders of the family have taken a decision way back in the year 1990/1991 for the welfare of the members, hence the heir-successors are duty bound to honour the decision of the elders. In the present case hereby hold that in the absence of undisputedly establishing the holding of shares of R-1 Company with the Petitioner on the date when the Petition was filed, he is not entitled to pursue the Petition in question being not maintainable on account of non-fulfilment of condition precedent.
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