1. Leave granted.

3. The Company Law Board, on the basis of the aforementioned petition and the replies thereto by the respondents, was initially of the opinion that this being a family concern, the disputes should be resolved amicably and passed an order dated 22.1.1996 calling upon the parties to make efforts for compromise. The relevant extracts of the order are as under:
"In view of the close relationship between the parties, we suggested to the counsel for both the sides that they should try to work out an amicable settlement between the parties. The counsel have undertaken to do so. The result of their efforts will be intimated to us on 20th February 1996 at 2.30 p.m."
Thereafter, three hearings took place and ultimately on 7.5.1996, the CLB passed the following order:
"It was agreed by the parties that the petitioners will sell their shares to the respondents for a value per share to be determined