1. In this order I am considering Company Application No. 447 of 2007 filed by the Respondent No.2 in Company Petition No.37 of 2007 filed by the petitioners under Sections 397, 398, 399 and 402 of the Companies Act, 1956 (hereinafter referred to as the "Act") against M/s Rajasthan Hospitals Ltd. alleging certain acts of oppression and mismanagement.

2.The undisputed facts of the case are: M/s Rajasthan Hospitals Ltd. (R-1) was incorporated on 16.3.1989 having its registered office at 75-76, Sardar Club, Jodhpur, Rajathan. The authorized capital of the company was Rs.5,00,00,000 and paid up share capital of the company was Rs.3,30,50,700. The main objects of the company are to undertake, promote, assist or engage in all kinds of research and development work required to promote, assist or engage in setting up hospitals and facilities manufacturing medical equipment, etc.

3.Sh. P.K. Mittal, counsel for the Applicant/Respondents contended that P-1 is not a shareholder,P-2 i.e. Mr S B Aggarwal is only a Director of the Respondent No.1 and not a shareholder. P-2 is the Constituted attorney who has exceeded the powers given in the Power of Attorney dated 23.3.2007 because it is nowhe