SANJEEV SACHDEVA, J.

1. Both these cross appeals arise out of order dated 21st December, 2006 passed in a petition under section 397 & 398 of the Companies Act, 1956, (hereinafter referred to as the Act) filed by Mr. Satish Kumar Bharti and Others (hereinafter referred to as the Bharti Group for convenience) against M/s Surya Estates Pvt. Ltd. (hereinafter referred to as the Company) and Other and are thus being disposed of by a common order.

2. The Company Law Board (CLB for short) by the impugned judgment has declared that the Bharti Group continues to be member of the Company and has directed the rectification of the register of members by restoring the names of the Bharti Group as members. The CLB has further held that there is no nexus between the shareholding and the entitlement to space in the building and the entitlement to space did not arise out of the membership in the Company and was purely a contractual matter and as such could not be agitated in a petition under section 397 and 398 of the Act but had to be agitated in a civil court. The CLB has further held that it is for the Oriental Bank of Commerce (hereinafter referred to as the Bank), the tenant in LG 1 to