Refusal to convert warrants into equity shares cannot constitute ingredients of complaint u/s. 397/398 of Companies Act

HIGH COURT OF ORISSA Orissa Sponge Iron & Steel Ltd. V/s. Bhushan Energy Ltd. L. MOHAPATRA, J. CO. PETITION NOS. 39 TO 41 OF 2009 FEBRUARY 22, 2011 JUDGMENT 1. The order dated 6th October, 2009 passed by the Company Law Board, Principal Bench, New Delhi in C.P.No.5 of 2009 is assailed in all the three company petitions, which were taken up together for hearing and disposal. BNS Steel Trading Pvt. Ltd., who was petitioner no. 1 before the Company Law Board, has filed COPET No. 40 of 2009 whereas BBN Transportation Pvt. Ltd., who was petitioner no. 3 before the Company Law B...