MANMOHAN, J.

Co. Appl. 887/2012 in Co. Pet. 20/1988

1. Present application has been filed by the applicant-Mr. Prithvi Manaktala-petitioner No.2 seeking to place on record a copy of the Revocation Deed dated 19April, 2012.

2. The facts relevant for the purposes of present application are that in 1986 applicant-petitioner No.2 and his brother Mr. Tilak Raj, petitioner no. 1 owned 685 shares each totaling to 1370 shares in the respondent company-M/s. Gora Mal Hari Ram Private Limited. The shareholding of both the petitioner No.1 and applicant-petitioner No.2 aggregated to about 40% of the issued and paid up share capital.

3. It is the case of the petitioner No.1 and applicant-petitioner No.2 that subsequently the respondents arbitrarily reduced their shareholding by 10% i.e. from 40% to 30.44% of the issued and paid up share capital.

4. In order to safeguard their rights, petitioner No.1 as well as applicant-petitioner No.2 filed the present Company Petition in this Court under Sections 397 and 398 of the Companies Act, 1956, challenging the issue of further shares. The petitioners also sought court orders/directions for restoration of the originally agreed parity in shareho