BACKGROUND:
The CLB by its order dated 01.03.2001 disposed of the petition by granting majority of the reliefs to Sanwalka group. Aggrieved by the aforesaid order of the CLB with regard to the maintainability of the company petition, issue of bonus shares and 25,000 ordinary equity shares and also the re-induction of the members of the Sanwalka Group in the Board of Directors, the Gupta Group appealed to the High Court. Challenging the decision of the Board insofar as the issue of 3065 preference shares and the lease in respect of the industrial plot is concerned,
