9911796707
TMI Blog2019 (10) TMI 1471X X X X Extracts X X X X X X X X Extracts X X X X ..... o resolution is to be passed removing the director/petitioner. That objection is devoid of any merit in view of the power of the Company u/s.169 of the Act. There is no harm if the holding up of EOGM is allowed to be held as prayed in the present application. It is the right of the shareholders to convene EOGM and pass any resolution inclusive of removal of a director, if the resolution is passed by majority shareholders of a company - The Board of Directors of the Company are directed to convene a fresh EOGM of the Company on the basis of the notices and documents annexed as Annexure 'G' under the Chairmanship of Mr. S.M.Gupta, who is appointed as the Special Officer by this Tribunal and is permitted to take all the necessary st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Shah. 2. It is submitted that the present I.A. was filed on behalf of LGW Limited, Mr. Sanjay Kumar Gupta, Mr. Anurag Gupta, Ms. Lucia Gupta and Mr. Jinesh Shah. Mr. Sanjay Kumar Gupta is the father of Mr. Anurag Gupta and husband of Mrs. Rekha Gupta, Mr. Sanjay Kumar Gupta and Mr. Anurag Gupta, the branch of Sanjay Kumar Gupta controls 82.42% of the equity shareholding of the said Company. 3. It is submitted that the Petitioner Mr. Amit Kumar Gupta and his HUF own 17.58% of the equity shareholding. Mr. Sanjay Kumar Gupta and Mr. Amit Kumar Gupta are brothers Sons of Mr. Kali Charan Gupta. Although Mr. Sanjay Kumar Gupta and his branch own 82.42% of equity shareholding, Mr. Sanjay Kumar Gupta permitted Mr. Amit Kumar Gupta to act as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o was given. The aforesaid interim order has been extended from time to time. 6. It is further submitted that taking advantage of the Interim Order passed in the C.P. the Petitioner representing himself as a Director of the Company, has taken various steps which are detrimental and prejudicial to the interest not only of Respondent No. I Company but also to the shareholder members. 7. It is submitted that the Interim Order passed on the applications filed by the Petitioner have completely paralysed the functioning of the Company by creating obstacles and hurdles at every juncture and by opposing every decision taken by the majority of the Board of Directors. The Applicant has prayed that if a Special Officer is appointed as Chairman f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce in the day to day administration of the Company. It is further submitted that 82% of the shareholding is being kept out and the minority shareholder is behaving as if the Respondents are in minority and he is in majority. 12. It is submitted that the Respondents are not being allowed to enter into the new Projects due to the Petitioner's activities. It is further submitted that if the EOGM is held under the aegis of the nominated Court Officer, the whole petition under Section 241-242 can be disposed of. 13. It is however, stated on behalf of the Petitioner that this is a family company and the Petitioner is a Promoter Director since 1984 and his only concern is that he should not be removed from the Directorship of the Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It is the right of the shareholders to convene EOGM and pass any resolution inclusive of removal of a director, if the resolution is passed by majority shareholders of a company. We therefore allowing the application upon passing the following orders:- ORDERS i) That the Board of Directors of the Company are directed to convene a fresh EOGM of the Company on the basis of the notices and documents annexed as Annexure 'G' under the Chairmanship of Mr. S.M.Gupta, who is appointed as the Special Officer by this Tribunal and is permitted to take all the necessary steps which are required to hold this EOGM in accordance with the provisions of the Companies Act, 2013 and place before this Tribunal a report about the manner in cond ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
