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TMI Blog2020 (8) TMI 429X X X X Extracts X X X X X X X X Extracts X X X X ..... other incomes for promoting its objects. The affairs of MRC is managed by Management committee comprising of 12 members and they are liable to retire by rotation. However, to serve the public interest the Govt. of Tamil Nadu had appointed 4 Management Committee Members who shall not retire by rotation. The MRC had commissioned a special investigation audit by an Independent Auditor viz. Brahmayya Company Chartered Accountant in the year 2016; this was done in order to recover the dues and large number of irregularities observed in MRC. Thereafter, the NCLT Chennai directed that notices issued to the person who were identified as being in default in Chartered Accountant report and also appointed Hon ble Justice K.P.Siva Subramaniyan a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h ( for short the Tribunal ) dated 24.09.2019. 2. The impugned order dated 24.09.2019 passed in CP No.31/2017 with CA 196/2017 with IA/244/2018 against the Respondent club i.e. Madras Race Club. This is a detailed order directing apart from other issues the followings: i. Directed the Respondent Club to convene and hold its Annual General Meeting for the years ending 2016 to 2019, the Bench also appointed Hon ble Justice R.S.Ramanathan (retired Judge of the Hon ble High Court of Madras) as the Independent Chairman for conducting all AGMs after issuing relevant notice in accordance with the Companies Act both by way of registered post with acknowledgment due and also by e-mail. The notice shall be published in newspaper in English in H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ven notice, if necessary by paper publication. Pursuant to the said direction notices were issued by the Madras Race Club in accordance with the directions of the Bench, publication affected in newspapers, a total of 179 persons sought to intervene in the proceedings before the Tribunal. It was also submitted that these 179 persons who even chose to intervene after several notices affected by the club pursuant to the proceedings pending before the NCLT and who in fact advance their objections and were heard by the NCLT. Hence, the question of any individual who were not an intervener before the NCLT seeking to challenge the impugned order does not arise. However, in the second appeal a total of 8(eight) persons were not even intervener duri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. The Appellants have also submitted that out of 635 Club Members who are ordered to be removed from the registered of the members by MRC were issued identity card with distinctive memberships number by MRC, have paid annual subscription for 10 to 15 years, annual usage charges, proportionate electricity and water charges etc. and their names were included in list of members filed with Registrar of Companies (for short ROC) and they were entitled to participate and vote in at AGM. 9. The MRC had commissioned a special investigation audit by an Independent Auditor viz. Brahmayya Company Chartered Accountant in the year 2016; this was done in order to recover the dues and large number of irregularities observed in MRC. Thereafter, the N ..... X X X X Extracts X X X X X X X X Extracts X X X X
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