To file petition U/s. 397/398 petitioner must be shareholder on the date of petition

COMPANY LAW BOARD, CHENNAI BENCH K. Venkatachalam Versus Premier Roller Floor Mills Ltd. CP NO. 36 OF 2008 APRIL 4, 2012 ORDER 1. This is a petition filed under sections 397 and 398 read with sections 402, 234, 235, 237 and 111 A, 111(4) of the Companies Act, 1956 (‘the Act’) and pertaining to the affairs of Premier Roller Mills, a public limited company incorporated in the year 1960. The company, according to the petitioners, was taken over by the first petitioner and other petitioners in the year 1979. The petitioners claim that there were 44 shareholders includi...