V.K. Jhanji, J. - This Civil Revision has been filed against order dated 3.11.2001 passed by Civil Judge (Senior Division), Jalandhar whereby application of the petitioners under Order 7 Rules 1 and 11 read with Section 151 of the Code of Civil Procedure for rejection of plaint was dismissed.

2. Succinctly stating, facts of the case are that M/s. Standard Electricals Limited was originally incorporated on 10.1.1958 as Indo Asian Traders Private Limited under the Indian Companies Act, 1956. Firstly, its name was changed to M/s. A.I. Switchagears Ltd. and again to the present name, M/s. Standard Electricals Limited. The Company is presently engaged in business of manufacture and marketing of electrical switchgears. The authorised share capital of the Company is stated to be Rs. 6 crores and its one share is worth Rs. 10/-. It was being run by Mr. J.K. Gupta and Mr. J.K. Goyal till 1994 when the Company transferred its share to the extent of 60 per cent to M/s. Havell India Limited (for short H.I.L.) and 40 per cent of shares remained with it. Memorandum of Association and Articles of Association according to the aforesaid shares were prepared and got registered with the Regis