This appeal is filed under section 10-F of the Companies Act, 1956 against the order of the Additional Principal Bench of the Company Law Board made in C.A.No.161 of 2006 in C.P.No.37 of 2006 dated 30.01.2009.

2. The respondents in this appeal have filed the company petition against the appellants for oppression and mismanagement under sections 397 and 398 read with 402 and 403 of the Companies Act, 1956. It was, in that company petition, the appellants have filed Application No.161 of 2006 before the Company Law Board for dismissal of the said company petition on the ground of maintainability. That application came to be dismissed by the Company Law Board on the basis that the issue raised by the appellants require consideration in detail, which can be done only in the main company petition.

3. The grounds on which the appeal is filed are that, the Company Law Board cannot decide about the title in respect of shares stated to have been transferred while exercising jurisdiction under sections 397 and 398 of the Companies Act; that the decision of the Company Law Board in rejecting the application on the ground of maintainability is perverse and without basis; and that t