1. This appeal is placed on board in view of the Order dated 28th October,2014 passed by the Supreme Court of India in Civil Appeal No.2481 of 2014 allowing the said civil appeal and remanding the company Petition No.24 of 2010 to this court for deciding the factual enquiry ‘whether the transfer of five shares from the appellant (singly) to the appellant jointly with his children and wife resulted in the total members of the respondent no.1 i.e. Gharda Chemicals Limited exceeding 50. Both the parties have accordingly addressed this court at length.

2. Some of the relevant facts for the purpose of deciding the issue remanded to this court by the Supreme Court of India are as under:-

3. Mrs. Jer Kavasmaneck was the mother of the appellant and the respondent no.2 i.e. Dr. Keki Hormusji Gharda. The appellant is the son of Mrs. Jer Kavasmaneck and nephew of Dr. Keki Hormusji Gharda. The respondent no.3 is wife of respondent no.2.

4. On 28th April, 1962, Kavasmaneck and Gharda family constituted a firm called M/s. Gharda Chemicals Industries. On 6th March, 1967, M/s. Gharda Chemicals Industries is incorporated as a private company by taking over the erstwhile family firm of M/s.Gh