Marpol_Pvt_Ltd_CA_143_2010 - Company Law Board Mumbai Bench

12Despite repeated requests and reminders the applicant/their advocateshave not given inspection of documents referred to and/or relied uponin the present application and therefore the application be dismissedwith costs and/or they are now estopped from relying upon the same.We crave leave to file a further affidavit as and when inspection ofdocuments is given by the applicant. At the outset the application astaken out by the applicant is an abuse of process of law and is contraryto the basic principles of law and not maintainable. The reliefs assought, the applicant has to file appropriate/different proceedingsbefore the court of competent jurisdiction and not file an application inthe present petition and hence the reliefs as prayed for the applicantcannot and ought not be granted and the application be dismissed inlimine. Admittedly on their own showing the shares stood transmittedto the five sons of late Mr. Atmaram Poi Palondicar in the year 2004.The cause of action to apply for reversal of transmission arose in 2004and therefore the applicant ought to have filed appropriate proceedingswithin 3 years from the transmission of shares i.e. by 2007 andtherefore the present application is barred by the law of limitation. Thecontention in the present application feigning ignorance about thetransmission is patently false and to say the least, far fetched. Thedeponent has by making such false statement has rendered himselfliable for perjury and an attempt to mislead this Hon’ble Tribunal. Theapplicant is a Trust of which the Respondent No.3 to 5 are Trustees.CA No.143 of 2010 in CP 72 of 2008M/s. Marpol Pvt. Ltd.12