9911796707
TMI Blog2018 (2) TMI 2009X X X X Extracts X X X X X X X X Extracts X X X X ..... hwhile to mention that the hon'ble National Company Law Appellate Tribunal in the above referred case has laid down under paragraph 145 of its order that the Tribunal cannot deliberate on the merits of proposed petition under section 241, while deciding an application for waiver under the proviso to sub-section (1) of section 244. This Tribunal is not supposed to discuss the merits of the proposed petition. However, on perusal of the contents of the application and the proposed petition, the applicant has made out a case for grant of the waiver of the requirement under section 244(1)(a) of the Companies Act, 2013. Appeal allowed in exercise of the powers conferred under the proviso to sub-section (1) of section 244 of the Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l paid-up capital of the first respondent-company, therefore is not fulfilling the requirement under section 244(1)(a) of the Companies Act, 2013, for filing petition under section 241. The applicant submits that he and his wife being shareholders in the first respondent-company are constrained to file the proposed petition under section 241 of the Companies Act, 2013, due to the illegal, wrong and burdensome conduct of respondents Nos. 2 to 4, resulting in mismanagement of the affairs of the first respondent-company and oppression of the applicant along with his wife's rights therein. It has further been submitted that as respondent No. 2-Mr. John Mathew (director) is conducting the affairs of the first respondent-company solely to ser ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ponsible for setting up of the hotel that is being run by the first respondent-company. It has further been submitted by the applicant that the matter complained of in the proposed petition clearly falls in the ambit of oppression and is agitatable only before this Tribunal, and he has no alternative and efficacious remedy for obtaining the reliefs sought for in the proposed petition from any other forum except this Tribunal. In case the application is not allowed the first respondent-company will suffer grave, irreparable and immense prejudice. Having submitted as above, a prayer has been made that waiver of requirement of section 244(1)(a) of the Companies Act, 2013, be granted in favour of the applicant for filing the proposed petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, made under section 223, it appears to the Central Government that any person has, in relation to the company or in relation to any other body corporate or other person whose affairs have been investigated under this Chapter been guilty of any offence for which he is criminally liable, the Central Government may prosecute such person for such offence. It has further been provided in the said provision that based on the investigation report made under section 223, if it appears to the Central Government that it is expedient to do so by reason of such circumstances as referred to in section 213, the Central Government may cause to be presented a petition to the Tribunal by any person authorised by the Central Government for winding up of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the same? (c) Is the cause raised of substantial importance to the appellants or to any class of members or to the company itself or in public interest? If the above indicators are taken into consideration in the light of the facts and circumstances mentioned in the application and the proposed company petition, the said factors are available in the application and the proposed petition, as if the facts and circumstances stated in the application/proposed company petition are taken as absolutely correct, then the applicant makes out a cause of an action for maintaining the petition under section 241 of the Companies Act, 2013. 7. The respondents in their reply has not established the fact that the application/proposed compan ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
