- 1 - IN THE HIGH COURT OF KARNATAKA AT BANGALORE DATED THIS THE 27 th DAY OF SEPTEMBER 2013 PRESENT THE HON’BLE MR.JUSTICE DILIP B.BHOSALE AND THE HON’BLE MR.JUSTICE B.MANOHAR COMPANY APPEAL NO.5/2012 c/w COMPANY APPEAL Nos.6/2012, 7/2012, 8/2012, 9/2012 & 10/2012 IN COMPANY APPEAL NO.5/2012 BETWEEN: 1.SEA ROCK INVESTMENTS LIMITED, SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL-576104 2.RAJMAHAL TRADE & INVESTMENTS PRIVATE LIMITED SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL-576104 3.ANIL SUNIL TRADE & INVESTMENTS PRIVATE LIMITED NO.701, NORTH BLOCK MANIPAL CENTRE 47, DICKENSON ROAD, BANGALORE-560042 …APPELLANTS (BY SRI.ASHOK HARANAHALLI, SR.ADV. FOR SRI. P.N.MANMOHAN, ADV.) AND: 1.CHITRAKALA INVESTMENT TRADE & BUSINESS FINANCE LIMITED - 2 - SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL-576104 2.SRI TONSE SUDHAKAR PAI S/O T. RAMESH PAI AGED 59 YEARS R/A NO.5, CHITRAKALA, ANANTHNAGAR MANIPAL, UDUPI, KARNATAKA-576104 3.SRI R. MURALIDHAR RAO S/O T. NARAYANA RAO AGED 82 YEARS R/A NO.11, MEGHA MALHAR, VIDYARATNANGAR, MANIPAL, UDUPI, KARNATAKA-576104 4.SRI GARNET ALBERT REGO S/O GRATIAN CHARLES REGO AGED 77 YEARS R/A 19B, KRISHNAPUR COLONY, MANIPAL, UDUPI, KARNATAKA-576104 5.SRI SHASHINDRA BHAT S/O RAMAKRISHNA S BHAT AGED ABOUT 47 YEARS R/A H.NO. 5-96, BADAGABETTA, UDUPI, KARNATAKA-576119 6.SMT. JAYA S. PAI W/O T. SUDHAKAR PAI AGED 55 YEARS R/A CHITRAKALA, ANANTHNAGAR, MANIPAL, KARNATAKA-576104 7.SRI KAPPPETTU PRAKASH SHETTY S/O K. NARAYANA SHETTY AGED 61 YEARS RAMANI, SARALABETTU, MANIPAL, KARNATAKA-576104 8.SRI P.P. MURALIDHARAN S/O KARUNAKARAN KIZHITIL - 3 - AGED ABOUT 53 YEARS R/A LAKHAN CO-OP HSG SOCIETY, FLAT NO.204, B WING, 2ND FLOOR RAMAKRISHNA NAGAR, CHINCH PADA ROAD, KALYAN (EAST), KALYAN, MAHARASHTRA-421306. 9.RAVINDRA PAL OBEROI S/O RAJENDRA OBEROI AGED 41 YEARS R/A BLDG, NO.6C, FLAT NO.304, ALICA NAGAR, LOKHANDWALA TOWNSHIP, KANDIVILI (E), MUMBAI, MAHARASHTRA-400101 10.SRI TARANATH C. KOTIAN S/O C.R. KOTIAN AGED ABOUT 58 YEARS 305, SHANTI APTS, BLDG NO.28, MILITARY RD, ANDHERI, NR RAJ OIL MILL, MUMBAI, MAHARASHTRA-400059 11.MANIPAL HOLDINGS PRIVATE LIMITED SYNDICATE HOUSE, UPENDRA NAGAR MANIPAL, KARNATAKA-576104 12.SRI U MUDDANNA S/O. CHANDU POOJARI AGED ABOUT 46 YEARS NIDAMBALLI, KELANEJARU KALYANPURA, UDUPI, KARNATAKA-576105 ...RESPONDENTS (BY SRI.K.G.RAGHAVAN, SR.ADV. FOR SRI.ANUP S.SHAH LAW FIRM FOR R1, R2, R4 TO R12) IN COMPANY APPEAL NO.6/2012 BETWEEN: 1.SEA ROCK INVESTMENTS LIMITED - 4 - SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL-576104 2.CHITARKALA INVESTMENT TRADE & BUSINESS FINANCE LTD SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL-576104 3.JAI BHARATH MILLS PRIVATE LIMITED SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL-576104 ... APPELLANTS (BY SRI.ASHOK HARANAHALLI, SR.ADV. FOR SRI. P.N.MANMOHAN, ADV.) AND: 1.RAJMAHAL TRADE & INVESTMENTS PVT. LTD. SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL-576104 2.SRI TONSE SUDHAKAR PAI S/O T. RAMESH PAI AGED 59 YEARS R/A NO.5, CHITRAKALA, ANANTHNAGAR MANIPAL, UDUPI, KARNATAKA-576104 3.SRI T. MURALIDHAR RAO S/O T. NARAYANA RAO AGED 82 YEARS R/A NO.11, MEGHA MALHAR, VIDYARATNANGAR, MANIPAL, UDUPI, KARNATAKA-576104 4.SRI SUBBARAME GOWDA S/O DASE GOWDA AGED 73 YEARS R/A 2710/2, II MAIN, VANIVILAS MOHALLA, MYSORE, KARNATAKA-570002 5.SRI KATPADY MADHAVA KINI S/O KATPADI RAGHAVENDRA KINI - 5 - AGED 51 YEARS R/A VAISHNAVI, KATAPADI UDUPI, KARNATAKA-574105 6.SMT. JAYA S. PAI W/O T. SUDHAKAR PAI AGED 55 YEARS R/A CHITRAKALA, ANANTHNAGAR, MANIPAL, KARNATAKA-576104 7.SRI KAPPPETTU PRAKASH SHETTY S/O K. NARAYANA SHETTY AGED 61 YEARS R/A RAMANI, SARALABETTU, MANIPAL, KARNATAKA-576104 8.SRI SEVAGOOR SRINIVAS KAMATH S/O SEVAGOOR VASUDEV KAMATH AGED 51 YEARS R/A 159/24, III MAIN, VYALIKAVAL, BANGALORE KARNATAKA-560003 9.SRI SHASHINDRA BHAT S/O RAMAKRISHANA S BHAT AGED 47 YEARS R/A H.NO.5-96, BADAGABETTA, UDUPI, KARNATAKA-576119 10.SRI GARNET ALBERT REGO S/O GRATIAN CHARLES REGO AGED ABOUT 77 YEARS R/A 19 B, KRISHNAPUR COLONY, MANIPAL, UDUPI, KARNATAKA-576104 ... RESPONDENTS (BY SRI.K.G.RAGHAVAN, SR.ADV. FOR SRI.ANUP S.SHAH LAW FIRM FOR R1, R2, R4 TO R10) - 6 - IN COMPANY APPEAL NO. 7/2012 BETWEEN: 1.CHITRAKALA INVESTMENT TRADE & BUSINESS FINANCE LIMITED "SYNDICATE HOUSE", UPENDRA NAGAR, MANIPAL- 576 104 2.RAJMAHAL TRADE & INVESTMENTS PRIVATE LIMITED SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL- 576 104 3.ANIL SUNIL TRADE & INVESTMENTS PRIVATE LIMITED NO. 701, NORTH BLOCK MANIPAL CENTRE 47, DICKENSON ROAD BANGALORE- 560 042 ...APPELLANTS (BY SRI.ASHOK HARANAHALLI, SR.ADV. FOR SRI. P.N.MANMOHAN, ADV.) AND: 1.SEA ROCK INVESTMENTS LIMITED SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL- 576 104 2.SRI TONSE SUDHAKAR PAI AGED ABOUT 59 YEARS S/O T RAMESH PAI R/AT NO. 5, CHITRAKALA, ANATHNAGAR, MANIPAL ,UDUPI KARNATAKA- 576 104 3.SRI R MURALIDHAR RAO AGED ABOUT 82 YEARS S/O T NARAYANA RAO R/A 11, MEGHA MALHA, VIDYARATNANAGAR, MANIPAL,KARNATAKA- 576 104 - 7 - 4.SRI GARNET ALBERT REGO AGED ABOUT 77 YEARS S/O GRATIAN CHARLES REGO R/A 19 B, KRISHNAPUR COLONY, MANIPAL KARNATAKA- 576 104 5.SRI SHASHINDRA BHAT AGED ABOUT 47 YEARS S/O RAMAKRISHNA S BHAT R/A H.NO. 5-96, BADAGABETTA, UDUPI, KARNATAKA- 576 119 6.SMT JAYA S PAI AGED ABOUT 55 YEARS W/O T SUDHAKAR PAI CHITRAKALA, ANANTHANAGAR, MANIPAL KARNATAKA- 576 104 7.SRI KAPPETTU PRAKASH SHETTY AGED ABOUT 61 YEARS S/O K NARAYANA SHETTY RAMANI, SARALABETTU MANIPAL KARNATAKA- 576 104 8.SRI P P MURALIDHARAN AGED ABOUT 53 YEARS S/O KARUNAKARAN KIZHITIL R/A LAKHAN CO-OP HSG SOCIETY FLAT NO. 204, B WING, 2ND FLOOR, RAMAKRISHNA NAGAR, CHINCH PADA ROAD, KALYAN ( EAST) KALYAN, MAHARASTRA- 9.SRI TARANATH C KOTIAN AGED ABOUT 58 YEARS S/O C R KOTIAN 305, SHANTI APTS. BLDG NO. 28, MILTARY RD. ANDHERI, N R RAJ OIL MILL, - 8 - MUMBAI, MAHARASHTRA-400 059 10.MANIPAL HOLDINGS PRIVATE LIMITED SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL KARNATAKA- 576 104 11.SRI RAMACHANDRA NAYAK AGED ABOUT 77 YEARS S/O FATHERS NAME NOT KNOWN TO THE APPELLANTS, R/A NEAR CANARA MILK, ESHWAR NAGAR, MANIPAL, KARNATAKA- 576104 ... RESPONDENTS (BY SRI.K.G.RAGHAVAN, SR.ADV. FOR SRI.ANUP S.SHAH LAW FIRM FOR R1, R2, R4 TO R11) IN COMPANY APPEAL NO. 8/2012 BETWEEN: 1.RAJMAHAL TRADE & INVESTMENTS PRIVATE LIMITED SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL- 576 104 2.ANIL SUNIL TRADE & INVESTMENTS PRIVATE LIMITED NO. 701, NORTH BLOCK MANIPAL CENTRE 47, DICKENSON ROAD BANGALORE- 560 042 ...APPELLANTS (BY SRI.ASHOK HARANAHALLI, SR.ADV. FOR SRI. P.N.MANMOHAN, ADV.) AND: 1.JAI BHARATH MILLS PRIVATE LTD SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL- 576 104 - 9 - 2.SRI TONSE SUDHAKAR PAI AGED ABOUT 59 YEARS S/O T RAMESH PAI R/AT NO. 5, CHITRAKALA, ANATHNAGAR, MANIPAL ,UDUPI KARNATAKA- 576 104 3.SRI R MURALIDHAR RAO AGED ABOUT 82 YEARS S/O T NARAYANA RAO R/A 11, MEGHA MALHA, VIDYARATNANAGAR, MANIPAL,KARNATAKA- 576 104 4.SRI GARNET ALBERT REGO AGED ABOUT 77 YEARS S/O GRATIAN CHARLES REGO R/A 19 B, KRISHNAPUR COLONY, MANIPAL KARNATAKA- 576 104 5.SRI KATPADY MADHAVA KINI AGED ABOUT 51 YEARS S/O KATPADI RAGHAVENDRA KINI R/AT VAISHNAVI, KATAPADI, UDUPI, KARNATAKA- 574105 6.SMT JAYA S PAI AGED ABOUT 55 YEARS W/O T SUDHAKAR PAI R/AT CHITRAKALA, ANANTHANAGAR, MANIPAL KARNATAKA- 576 104 7.SRI KAPPETTU PRAKASH SHETTY AGED ABOUT 61 YEARS S/O K NARAYANA SHETTY R/O RAMANI, SARALABETTU MANIPAL KARNATAKA- 576 104 - 10 - 8.SRI JAGADISH KUDVA AGED ABOUT 50 YEARS S/O ANNAPPA KUDVA R/AT BELMAN, KARKALA, KARNATAKA- 574 105 9.SRI SHASHINDARA BHAT AGED ABOUT 47 YEARS S/O RAMAKRISHNA S BHAT R/A H.NO. 5-96, BADAGABETTA, UDUPI, KARNATAKA- 576 119 10.SRI U MUDDANNA AGED ABOUT 46 YEARS S/O CHANDU POOJARI R/A NIDAMBALLI, KELANEJARU, KALYANPURA, UDUPI, KARNATAKA- 576 105 11.SRI RAMACHANDRA NAYAK AGED ABOUT 77 YEARS S/O FATHERS NAME NOT KNOWN TO THE APPELLANTS, R/AT NEAR CANARA MILK, ESHWAR NAGAR, MANIPAL, KARNATAKA- 576 104 ... RESPONDENTS (BY SRI.K.G.RAGHAVAN, SR.ADV. FOR SRI.ANUP S.SHAH LAW FIRM FOR R1, R2, R4 TO R11) IN COMPANY APPEAL NO. 9/2012 BETWEEN: 1.CHITRAKALA INVESTMENT TRADE & BUSINESS FINANCE LTD., SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL-576104 2.RAJMAHAL TRADE & INVESTMENTS PVT. LTD SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL-576104 - 11 - 3.ANIL SUNIL TRADE & INVESTMENTS PVT. LTD. NO.701, NORTH BLOCK MANIPAL CENTRE 47, DICKENSON ROAD, BANGALORE -42 ... APPELLANTS (BY SRI.ASHOK HARANAHALLI, SR.ADV. FOR SRI. P.N.MANMOHAN, ADV.) AND: 1.MANIPAL BUILDERS & DEVELOPERS PVT. LTD. SYNDICATE HOUSE, UPENDRA NAGAR, MANIPAL-576104 2.SRI.TONSE SUDHAKAR PAI S/O T. RAMESH PAI AGED ABOUT 59 YEARS R/AT NO.5, CHITRAKALA, ANATHNAGAR, MANIPAL, UDUPI, KARNATAKA-576104 3.SRI. R. MURALIDHAR RAO S/O T. NARAYANA RAO AGED ABOUT 82 YEARS R/A 11, MEGHA MALHAR, VIDYARATNANAGAR, MANIPAL , KARNATAKA-576104 4.SRI. SHASHINDRA BHAT S/O RAMAKRISHNA S. BHAT AGED ABOUT 47 YEARS R/AT H.NO.5-96, BADAGABETTU, UDUPI, KARNATAKA -576119 5.SMT. JAYA S. PAI W/O T. SUDHAKAR PAI AGED ABOUT 55 YEARS R/AT CHITRAKALA ANANTHANAGAR MANIPAL, KARNATAKA -576104 6.SRI. KAPPETTU PRAKASH SHETTY S/O K. NARAYANA SHETTY AGED ABOUT 61 YEARS - 12 - R/AT RAMANI, SARALABETTU, MANIPAL, -576104 7.SRI. KATPADY MADHAVA KINI S/O KATPADI RAGHAVENDRA KINI AGED ABOUT 51 YEARS R/A VAISHNAVI, KATAPADI, UDUPI, KARNATAKA-574105 8.SRI. JAGADISH KUDVA S/O ANNAPPA KUDVA AGED ABOUT 50 YEARS R/AT BELMAN, KARKALA KARNATAKA-574105 ... RESPONDENTS (BY SRI.K.G.RAGHAVAN, SR.ADV.