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CASE NO.: Appeal (civil)  591 of 2008

PETITIONER: Ram Bahadur Thakur Ltd. & Ors.

RESPONDENT: Manish Mohan Sharma & Anr.

DATE OF JUDGMENT: 22/01/2008

BENCH: Tarun Chatterjee & Dalveer Bhandari

JUDGMENT: JUDGMENT

O R D E R  (Arising out of SLP (C) No. 22720 of 2007) [WITH Civil Appeal No. 592 of 2008 arising out of S.L.P. (C)  No. 24202 of 2007)               Leave granted.

       Heard learned counsel for the parties at length.

       These appeals emanate from the judgment of the High  Court of Judicature at Patna dated 5.10.2007 passed in  Company Appeal No. 9 of 2007.                  The relevant portion of the order of the High Court dated  5.10.2007 is as under:

\023Having heard counsel for the parties it is deemed  expedient to direct the appellant to furnish the  ownership document of the five sale Estates as also  other assets as per the Transfer Document before  the Board on or before 26th October, 2007,  whereafter the Board will retain those documents  until the amount specified in terms of clause (4) of  the Transfer Document is finalized and paid by the  party concerned after taking into account the  statutory and other deductions.  It is open for the  Board to finalize the amount in terms of clause (4)  of the Transfer Document even prior to 26th  October, 2007 but while adjudicating on statutory  and other deductions the Board will give a reasoned  order specifying the sum concerning each of the  sub-clauses of clause (4) of the Transfer Document  so that there may not be any confusion in the mind  of the parties.  It is made clear that if the ownership  documents are not produced before the Board on or  before 26th October, 2007 then the Board shall  proceed with the execution proceedings as they are  already proceeding.\024  

             It may be pertinent to mention that this Court in Civil  Appeal No. 9446 of 2003 (Manish Mohan Sharma & Ors. v.  Ram Bahadur Thakur Ltd. & Ors.) on the basis of  Memorandum of Family Arrangement passed a comprehensive

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order on 21.3.2006.  The relevant portion of the order dated  21.3.2006 is as follows:

       \023We note that the MOFA and Transfer  Document were the outcome of the commendable  and determined efforts on the part of the Company  Law Board to bring to an end disputes between the  parties in a manner which would have been in the  interest of the respondent no 1 given the impasse  between the two blocks of shareholders and saved  the parties a lot of unnecessary harassment,  expenditure and acrimony.  We also sought to bring  an end the dispute by proposing measures which  might be acceptable to both.  However, such  resolution does not appear to be possible.  Therefore  it must be left to the Company Law Board to  execute its order dated 19th August, 1999 in  accordance with the settled principles of law and in  terms of the opinion expressed by us in this  judgment.  The impugned decisions of the Company  Law Board and the High Court are for the reasons  earlier stated set aside.  The appeals are allowed  and the matter remanded back to the Company Law  Board for completing the implementation of the  order dated 19th August, 1999 by executing the  same.\024

       As the orders passed by the High Court of Patna and the  Company Law Board are in pursuance of the order passed by  this Court on 21.3.2006 in Civil Appeal No. 9446 of 2003, no  interference is called for.

       The civil appeals being devoid of any merit are  accordingly dismissed.  In the facts and circumstances of the  case, we direct the parties to bear their own costs.