JUDGMENT

Syed Shah Mohammed Quadri, J.-This appeal is directed against the judgment and decree of the High Court of Judicature at Patna (Ranchi Bench), in Appeal from Appellate Decree No. 21 of 1979 (R) passed on November 11, 1997. The appellants-plaintiffs filed Title Suit No. 28(A) of 1976 in the court of the Subordinate Judge, 1st Court, Dhanbad, praying for a declaration of title in respect of a bungalow and a piece of land measuring 1.38 acres consisting of survey plot Nos. 91 to 94 appertaining to Khatian No. 2 of mouza Nichitpur (hereinafter referred to as the suit property ) and for permanent injunction restraining the respondents from interfering with their possession.

2. The suit property was owned by M/s. Nichitpur Coal Company Private Limited (hereinafter referred to as the Company ), which is registered under the Indian Companies Act. By a resolution of the board of directors of the Company dated September 21, 1970, it was resolved to sell the suit property to the appellants for a consideration of Rs. 5,000/-. However, the appellants paid Rs. 7,000/- to one of the directors under receipt dated December 30, 1970 (Ext. 10). An agreement to sell the suit property to the a