Radhakrishnan,J.

The Cochin Malabar Estates and industries Ltd. the appellant in MFA.1160, 1159 AND 1161 of 2002 is a public limited company registered under the Indian Companies Act. Company is having its registered office at Cochin. The nominal capital of the company is Rs.5 crores divided into 5000, 12% cumulative preferential shares of Rs.100/- each, and 49,50,000 equity shares of Rs.10/- each. The amount of paid up capital is Rs.1,77,19,080/- divided into 17,71,908 equity shares of Rs.10/-each. The company is having three Rubber Estates and one Tea Estate apart from Aqua-culture Units at Goa and an office building at Bombay, of which one estate called the Kinalur Estate is having an extent of 987.27 hectares. The Chairman and Managing Director of the company is a share holder of about 30% of paid up shares. Life Insurance Corporation has got 18% shares and has a nominee in the Board of Directors. Bangur group is holding about 18% of the total shares of the company. Company petitioner holds only 50 shares in the respondent company which is less than 0.02% of the total shareholdings of the company.

2. The Company has to discharge some outstanding liabilities to the ba