1. Heard. By consent, the motion is heard finally at the stage of admission itself.

2. By this motion the plaintiff who is a shareholder of the defendant no.1 company, seeks relief of injunction restraining the defendant no.5, who is the purchaser of the company’s property under a deed of conveyance dated 13th December 2007 from selling, alienating, creating third party rights, developing or carrying out any construction or parting with the possession the property purchased by it (hereinafter referred as ’suit property’) till the disposal of the suit. Though a relief for appointment of receiver is also claimed in the motion, the same is not pressed.

3. The facts giving rise to the dispute are that defendant no.1 is a company incorporated registered under the Companies Act, 1956 . The defendant nos.2, 3 and 4 are its directors. The defendant no.5 is the purchaser of the suit property which formerly belonged to the defendant no.1 company. The defendant nos.6 and 7 are the directors of defendant no.5. The defendant no.1 company is said to be a Sick Industrial undertaking. In view of the accumulated losses, the defendant no.1 approached the Board of Industrial and Financi