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2021 (8) TMI 94 - AT - Companies LawAppointment as Independent Chairperson - HELD THAT - Since the name of Mr. E. Selvaraj appears in all the panel of names filed by both the Appellants and Respondent Nos. 1 3 and 2, 4, 6 7, a query was put to the Learned Sr. Counsel Mr. Krishnan Venugopal and Learned Counsels Mr. Naveen R. Nath and Mr. Saji P John, whether a consensus could be arrived at with respect to the name of Mr. E. Selvaraj to be appointed as an Independent Chairperson to administer and manage the affairs of the Company/Hospital till the disposal of these Appeals. An amount of ₹ 50,000 per month plus the expenses incurred towards Air Fare and Hotel Stay be paid as remuneration borne by the Company. The parties shall also identify the place of stay to the comfort and convenience of Mr. E. Selvaraj. - Application disposed off.
Issues:
Appointment of Independent Chairperson for Company/Hospital Management Analysis: The Appellants proposed a panel of names for the appointment of an Independent Chairperson, including individuals like Mr. K.R Shenoy, Mr. E. Selvaraj, and Mr. Millath. Respondent Nos. 1 and 3 submitted a separate panel with names like Mr. E. Selvaraj, Mr. Ibrahim Adoor, and Mr. B. N Hairsh. Respondent Nos. 2, 4, 6 & 7 also submitted a panel with similar names. As Mr. E. Selvaraj's name appeared in all panels, a consensus was sought regarding his appointment. All parties agreed to appoint Mr. E. Selvaraj, a retired Additional Secretary of the Government of India, as the Independent Chairperson to manage the Company/Hospital until the disposal of the Appeals. Mr. Selvaraj was given the authority to appoint an accountant to assist in company management, with the accountant's remuneration to be determined by Mr. Selvaraj. Regarding remuneration, after considering submissions from all parties, it was decided that Mr. E. Selvaraj would receive a monthly remuneration of ?50,000 along with expenses for Air Fare and Hotel Stay, to be borne by the Company. The parties were instructed to identify a suitable place of stay for Mr. Selvaraj's comfort and convenience. Consequently, the Interim Application (I.A.) No. 395 of 2021 was disposed of with the provided directions. The matters were scheduled for orders on I.A. No. 2313 & 2314 of 2020 in CA (AT) No. 77 of 2019 on 13th July 2021.
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