( 1 ) APPLICANTS are the petitioners in Company Petition No. 20 of 1977 and by this application seek certain interlocutory-orders.

( 2 ) COMPANY Petition No. 20 of 1977 has been instituted by the applicants under Ss. 397 and 398 of the Companies Act alleging that the affairs of the company Southern Steelmet and Alloys Limited, are conducted in a manner so prejudicial to the interests of the company and its members as to call for and justify the interference of the company court and the exercise of the powers of the court under Ss. 397, 398 and 402 of the Companies Act.

( 3 ) THE grievances ventilated in the petition stem from disputes amongst brothers, the eldest Mohanlal Mittal and his group being on the one side and his younger brothers Indrasen Mittal and others on one other. The main allegations in the said petition brought under Ss. 397 and 398 of the Companies Act are that the Board of Directors of the company purportedly passed a resolution on 31st March 1977 deciding to raise the equity capital of the company by authorising the issue of 1,14,000 equity shares of Rs. 10 each amounting to Rs. 11,40,000 which according to the applicants represents 60 per cent of the existing e

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