M.R. SHAH, J.

1. Feeling aggrieved and dissatisfied with the impugned order passed by the learned Company Law Board dated 26.5.2006 dismissing the said appeal preferred by the appellant herein filed under the provisions of Section 111-A of the Companies Act, 1956 seeking direction against the respondent no.1 Company to register the transfer of 38,04,100 shares in favour of the petitioner, original applicant- Appellant - Mehsana District Central Cooperative Bank Limited has preferred present appeal.

2. The facts leading to the present appeal in nutshell are as under:

2.1. It is the case on behalf of the appellant Bank that appellant lent an amount of Rs. 40 Crores to respondent no.2- Petrofils Cooperative Ltd (hereinafter referred to as "Petrofils") by way of fixed deposits which carried interest @ 18% p.a between 23.11.1995 to 18.02.1996. That the deposits were for the period between 60 days and 90 days. It is the case on behalf of the appellant Bank that against the aforesaid finance deposit of Rs. 40 crores, by way of security, the Petrofils agreed to handover custody of 38,04,100 equity shares of respondent no.1- Gujarat Industries Power Company Limited. According