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B.S.V.PRAKASH KUMAR
Star Bus Services (P. ) Ltd. , In re – Appellant
Versus
– Respondent
1. It is a Company Petition, the petitioners filed under sections 397 & 398 r/w 402 of the Companies Act (hereinafter referred as "Act") where 1st petitioner himself and on behalf of R-1 company engaged in the business of road transport, entered into a shareholders' agreement (hereinafter referred as "SHA") with 4th Respondent to transfer the shareholding of the petitioners letting 4th Respondent take over the control of R-1 Company phase-wise, believing the same, R-2 entered into this SHA dated 09.03.2010 on behalf of 4th Respondent, when the petitioners could not bring in the funds into R-l company to take off the project it has got in bidding from New Delhi Government for plying low floor buses low floor buses in Delhi for cluster I out of total 17 clusters proposed by NCT of Delhi. In pursuance of the SHA, R-4 invested huge money and its given personal guarantees worth more than 100 crore to avail loan facility to R-1 Company. When the business started allegedly going well, litigation knocked at the door of the Respondents 2-4 for having the petitioners first initiated Arbitration proceedings before honourable High Court of Delhi, secondly a case against the Respondedt-4 b
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