Y. K. Sabharwal, J.

( 1 ) A petition filed by the appellant under Sections 397,398, 402 and 403 of the Companies Act, 1956 (for short the Act ) against Kamal Oil and Allied Industries Ltd. (for short the Company ) and other respondents having been dismissed by learned Single Judge, this appeal has been preferred TO. By the impugned judgment dated 7th February, 1984, the learned Single Judge has held that considering the averments in the written statement there is serious dispute between the parties as to whether the shares in favour of appellants were transferred rightly and validly in accordance with Section 108 of the Act and that the decision of such a question is clearly beyond the scope of Section 397 and /or 398 of the Act and the remedy of the party lies in approaching a civil suit. The petition was held not to be maintainable and was accordingly dismissed.

( 2 ) the facts in detail have been noticed in the judgment under appeal and we do not think it necessary to again notice herein detailed facts. We would notice only such facts in brief which are necessary to understand the point in issue, namely, the dismissal of the company petition at the preliminary stage on the gr

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