R. Subbiah, J.

This appeal is preferred against the order of a learned single Judge of this Court dated 10.03.2008 in an application filed by the appellant herein under Order VII Rule 11 of C.P.C.for rejecting the plaint filed by the respondents herein on two grounds, namely, (i) the claim as disclosed in the plaint is hopelessly barred by limitation; and (ii) there is no cause of action at all to file a suit against the defendants.

2. The facts, which led to file the application under Order VII Rule 11 of C.P.C., are as follows:

The appellant herein is the 1st defendant in the suit. The 1st respondent/1st plaintiff is a Private Limited Company and the 2nd respondent/2nd plaintiff is one of the shareholders of the 1st plaintiff company. Defendants 1 to 5 in the suit are related companies promoted by one Mr. G.Venkateswaran. The said G.Venkateswaran was also one of the Directors of the 1st Plaintiff company for some time during the period from 1987 to 1990. Defendants 1 to 5, along with another related entity, possessed 7, 80,000 shares in M/s.Shaw Wallace Company Limited. The said shares were seized by the Commissioner of Income Tax in a raid conducted by the Income Tax