The main legal point established in the judgment is the application of res judicata and issue estoppel in the context of a civil suit, as well as the jurisdiction of the Company Law Board (now NCLT) to decide the matter.

JUDGMENT

Sabyasachi Bhattacharyya, J. - The present application has been filed seeking review of the judgment and order dated august 5, 2021 passed in C.O. No.1201 No. of 2021, which was passed in presence of counsel for the revisionist-petitioners and opposite party no.1 (present review applicant no.1).

2. By the order under review, C.O. No.1201 was allowed on contest, thereby setting aside the order impugned therein and rejecting the plaint of Title Suit No.13 of 2019 pending in the court of Civil Judge (Senior Division), at Uluberia, District Court, Howrah. Consequentially, the application filed by the review applicants, who were the plaintiffs in the suit, under Order XXIII Rule 1 of the Code of Civil Procedure was rendered infructuous and also dismissed.

3. The review applicants, who were opposite parties in the revisional application, had filed a suit bearing Title Suit No.13 of 2019 following Reliefs:

'(a) Decree declaring that the defendant nos. 1 and 2 are holding the shares in the defendant nos. 4 and 5 as particularised in Schedule 'a' at the foot of this plaint as trustees for the benefit of the plaintiffs and the said defendants have no beneficial interest over such shares;

(b) Decree declaring that in view of the family settlement made in the Kejriwal family and recorded in the Memorandum dated 29 September 2002, a copy whereof is contained in annexure 'B' hereto, --

5 which stood registered in the names of the Parents of the plaintiff no.1 and the defendant no.1viz. Murari Mohan Kejriwal since deceased and Smt. Savitri Devi Kejriwal since deceased and particularised in Schedule 'B' at the foot of this plaint and such vested right of the plaintiffs crystallised only upon demise of both the Parents; and

ii. the Parents merely held life interest in such shares and had no right or competence to transfer or bequeath such shares to the defendant nos. 1 to 3 or any other person save and except the plaintiffs;

(c) Decree declaring that all testamentary dispositions if any, made or effected by the Parents viz., Murari Mohan Kejriwal since deceased and Smt. Savitri Devi Kejriwal since deceased relating to the shares of the defendant company nos.4 and 5 standing in their names or held by them as particularized in Schedule 'B' at the foot of this plaint be adjudged illegal, null and void insofar as the same relates to disposition of the said shares in favour of the defendant nos.1 to 3 or any other person and be directed to be delivered up and cancelled.

(d) Mandatory Decree directing the defendant nos. 1 and 2 to transfer and deliver their entire shareholding in the defendant company nos. 4 and 5 as particularised in schedule 'a' at the foot of this plaint to the plaintiffs in consideration of the said family settlement made in the Kejriwal family;

(e) Decree be passed for rectification of the Register of Members of the defendant company nos. 4 and 5 by deleting the names of the Parents viz., Murari Mohan Kejriwal since deceased and Smt. Savitri Devi Kejriwal since deceased and the defendant nos. 1 and 2 in respect of the shares stated in Schedule 'a' and 'B' at the foot of this plaint and substituting the names of the plaintiffs as the joint owners of such shares;

(f) Decree of permanent injunction restraining the defendant nos. 1, 2 and 3 from exercising any right standing in their names or in the names of the Parents viz., Murari Mohan Kejriwal since deceased and Smt. Savitri Devi Kejriwal since deceased in the defendant company nos. 4 and 5 and particularised in Schedules 'a' and 'B' at the foot of this plaint;

(g) Decree of permanent injunction restraining the defendant nos.1, 2 and 3 from selling, transferring, encumbering, pledging or in any way dealing with any share in the defendant company nos. 4 and 5 standing in their names of held by them or standing in the names of the Parents viz., Murari Mohan Kejriwal since deceased and Smt. Savitri Devi Kejriwal since deceased in the defendant company nos. 4 and 5 and particularised