Properties acquired from common properties of common ancestor cannot be adjudicated by Company Court: Civil Suit not barred u/s. 397 to 407 of the Companies Act, 1956

Relevant Extract Originally the ancestor of the plaintiffs and the defendants, namely, B had started a proprietary concern. His son constituted six private limited companies and registered them under the Companies Act, 1956, and all the shareholders of these companies being the heirs of the late B, the companies were family concerns. The Defendants Nos. 2 to 6 started defendants Nos. 7 to 12 companies out of the funds of the original concern. In a suit for partition and rendition of accounts the plaintiffs claimed that the companies were started from the assets of the common ancestor, that the...