1 coapp-12-13-07 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION jmi COMPANY APPEAL NO. 12 OF 2007 IN COMPANY PETITION NO. 25/111A/CLB/WR/2005. Mrs. Irene Louis Lasrado. ..Appellant. v/s. Cipla Limited & Anr. ..Respondents. WITH COMPANY APPEAL NO. 13 OF 2007 IN COMPANY PETITION NO. 24/111A/CLB/WR/2005. Mrs. Sendra Leveena Lasrado. ..Appellant. v/s. Cipla Limited & Anr. ..Respondents. .... Mr. Simil Purohit, a/w. Ms. Sheela Mistry, for Appellant in both Appeals. Mr. Mahesh Londhe, i/b. Sanjay Udeshi & Co., for Respondent No.1 in both Appeals. Mr. S.H. Doctor, Senior Counsel, a/w. Mr. B.B. Parekh, for Respondent No.2 in both Appeals. .... CORAM : S.J. KATHAWALLA, J. DATE : 20TH OCTOBER 2010. P.C The above Company Appeals are filed by the Appellants impugning the order dated 27th July 2006 passed by the Company Law Board (CLB), Western Region Bench in Company Petitions filed by Respondent No.2 under section 111A of the Companies Act, 1956, directing the Company to cancel the 550 shares (the said shares) 2 coapp-12-13-07 registered in the name of the above Appellants and issue duplicate shares in the name of the Respondent No.2 on submission of Indemnity Bond within 30 days from the date of receipt of the order and rectify the register of members of the Company accordingly. Admittedly, after the order dated 27th July, 2006 passed by the CLB, the shares have been transferred by the Company in the name of the Respondent No.2 in its share register. 2. The Respondent No.2 had also filed in this Court a suit being Suit No.2536 of 1995 seeking a declaration that the Respondent No.2 is the owner of the said shares and for directions to the Company to show the said shares in the name of the Respondent No. 2 in the share register. The said suit is pending before this Court. However, in the said Suit, an interim order is passed directing the Respondent No.2 not to create any further transfers in respect of the said shares. 3. The parties have agreed and it is hereby ordered that pending the hearing and final disposal of Suit No. 2536 of 1995, Respondent No. 2 shall not create any further transfers in respect of the said shares and the bonus shares issued thereon and the Respondent No.2 shall maintain record of all the benefits which have been obtained in respect of shares in question and produce the said record before the Court when called upon to do so. 3 coapp-12-13-07 4. Parties have further agreed that the said Suit shall be disposed of without being influenced by the observations made by the CLB in its order dated 27th July 2006. 5. In view of the order passed in paragraph 3 above and the agreement recorded in paragraph 4 above, the Appellants are not pressing the present Appeals. The above Appeals are accordingly, disposed of as withdrawn. [ S.J. KATHAWALLA, J. ]