ORDER

PER: BACHU VENKAT BALARAM DAS, MEMBER (JUDICIAL)

A. Brief Background of the Case:

1. The instant petition has been filed under Sections 397 , 398, 402, 403 and 406 of the Companies Act, 1956 on the allegation that the Respondents have committed various acts of oppression and mismanagement. The Petitioner has prayed for declaration of the Form-32 filed by the Respondents with the office of Registrar of Companies, which purportedly shows that the Petitioner has resigned from the directorship of Respondent No. 1 Company on 29.06.2005, is null and void and should be cancelled. The Petitioners have also prayed for a direction seeking permanent injunction restraining the Respondents and/or their servants, agents, and/or assigns from transferring, alienating, selling, disposing of, leasing, mortgaging, dealing with and/or creating any third party rights in any manner whatsoever in respect of any property, shares or interest belonging to the Respondent No. 1 Company including the property bearing No. 29, in Block E, admeasuring 9670 Sq. yards in the layout plan of Okhla Industrial Area Phase II, along with the industrial building thereon.

The Petitioners have also prayed for a direction