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TMI Blog2021 (2) TMI 308X X X X Extracts X X X X X X X X Extracts X X X X ..... r alia seeking a direction to the Respondents to maintain 'STATUS QUO' with regard to the constitution of the 3rd Respondent Company, its Directions and Bankers, in the interest of justice and equity. 2. Brief facts of the case, which are relevant to the issue in question, are as follows: (1) The main Company Petition bearing C.P. No. 82/BB/2020 was filed by Mrs. Glory Tharial Xavier (Petitioner), U/s. 241 (a) & (b) of the Companies Act, 2013, by inter alia seeking to appoint an Administrator, for a fixed period of time at the cost of the Company, to oversee the functioning of Company and regulate its business affairs; to appoint an external auditor, to conduct an audit of the Company's finances and file a report; and to appo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bai Jain for Rs. 4,29,685/- on 02.05.2019. iii Mahendra Kumar for Rs. 4,76,425/- on 15.05.2019. (4) It is stated that on 14.09.2019 a Board meeting was scheduled to be held at Bangalore ostensibly to clear a lot of issues. The Applicant/Petitioner is a non-resident directress, and has reliably that, the 2nd Respondent and her Husband Shri Anshul Bhatnagar, who had resigned as Company Dy. GM on 30th October, 2019 have clandestinely joined hands with the 1st Respondent and are planning to move a resolution to remove the Petitioner as Directress of the 3rd Respondent Company. The returns for the Financial Year 2018-2019 have not been filed as per Rules. The AGM (Zoon Meeting) has been called on 10.06.2020. The objections and clarifications ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nies Act, 2013 etc. However, none appears for the Respondents so far. Since the Applicant/Petitioner is stated to be holding 38% of the shares of the Company apart from position of Directorship, she is entitled to participate in the affairs of the Company and she is also entitled to receive perks on par with other Directors. Since the Tribunal is not in a position to hear the Respondents till now, we cannot pass further exparte interim orders, at present as prayed for. However, the Respondent No. 3, in the meanwhile, cannot force the Applicant to subscribe to Rights issue as offered to her, vide letter dated 07th July, 2020 until further orders. 6. In the result, I.A.No. 269/2020 in C.P. No. 82/BB/2020 is hereby disposed of by directing th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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