This Civil Miscellaneous Appeal is filed by the appellants against the order dated 09.08.2007 of the Company Law Board, Additional Principal Bench at Chennai passed in Company Application No.41 of 2007 in Company Petition No.64 of 2006, raising the following substantial question of law:-

"Whether in the facts and circumstances of the case, the Company Law Board erred in law in granting interim relief to the respondents by directing the implementation of the resolutions for removal of the existing Directors, pending disposal of the main Company Petition?"

2. By consent of both the sides, the main Appeal itself is taken up for disposal.

3. The background facts leading to the above substantial question of law are as follows:-

The respondents 1 to 5 filed a Company Petition in C.P.No.64 of 2006 under Sections 397, 398, 402 & 403 read with Section 235, 237 and Schedule XI of the Companies Act. The first appellant is a Private Limited Company. The second and third appellants are the Director-cum-Share Holders of the company. All the respondents are shareholders except the seventh respondent who was appointed as Commissioner by the Debts Recovery Tribunal ("DRT" in short), to