9911796707
TMI Blog2017 (3) TMI 1863X X X X Extracts X X X X X X X X Extracts X X X X ..... members and Petitioners holding in the company is 17.58% of the valid, issued, paid-up and subscribed share capital. It is closely held family company which runs in the guise of partnership. Petitioner has taken a legal ground that removal of director is a special business and Section 102 of the Companies Act, 2013 provides that attachment of explanatory statement is required with issuing notice of EOGM for concerning special business. Removal of director is not defined in Section 2(1)(a). Therefore, it comes under the special business and as per requirement of 102 of the Companies Act, 2013, for such business explanatory statement is necessary to be issued. Notice which is at page 491 of the Company Petition does not contain the explanator ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tter today i.e. 10/03/2017. Petitioner Counsel was present today but nobody was present on behalf of the Respondents. Heard the Ld. Counsel of the Petitioner. It appears from the record that this Petition has been filed u/s 241 and 242 of the Companies Act, 2013. As per averment of the Petition, a family business commenced in 1949 under the partnership deed dated 20/04/1949 which was annexed at page-466 of the Company Petition) under the name and style of 'Laxmi Glass Works' and after the grandfather of Petitioner died his father Late Kali Charan Gupta, became the sole proprietor of Laxmi Glass Works till his death on 23/02/1987. After the death of Kali Charan Gupta, his four sons continued the family business of Laxmi Glass Works as a par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd with this objective are seeking to oust Petitioner as a director from the board of R-l Company. Petitioner has further stated that he has recently received a special notice dated 06/02/2017 issued by R-2 as a requisitionist under Section 11, 115 and 169 of the Companies Act, 2013 intending to move and ordinary resolution to seek removal of Petitioner as a director at an EOGM proposed to be held on 15/03/2017. The impugned special notice issued by R-2 to R-1 dated 06/02/2017 has been annexed at page-484 of the Company Petition. Petitioner has sought interim relief on the ground that special notice which has been issued regarding removal of Petitioner from the directorship shows that EOGM has been called on 15/03/2017 at 2 p.m. Petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he record that EOGM has been called with a specific business to remove the Petitioner as a director of the R-1 Company which is proposed to be held on 15/03/2017 at 2 p.m. So Petitioner prayed that if the interim is not passed, he will suffer irreparable loss and he will be removed from the directorship illegally and the Petition shall become in fructuous which has been filed under Section 241 and 242 of the Companies Act, 2013. It is necessary to give opportunity to the Respondents for filing reply. On 15/03/2017 the meeting is schedule to be held for removal of the Petitioner from the directorship of the R-l Company. As per averment of the Petition, R-l is a Gupta family company which is managed and controlled by bunch of Gupta family me ..... X X X X Extracts X X X X X X X X Extracts X X X X
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