9911796707
TMI Blog2021 (11) TMI 799X X X X Extracts X X X X X X X X Extracts X X X X ..... t No. 1/company shall be made from the date of this order in order to avoid multiplicity of proceedings. Application disposed off. - IA No. 73 of 2021 in Company Petition No. 8/241/2021 - - - Dated:- 7-10-2021 - M.B. Gosavi, Member (J) And Veera Brahma Rao Arekapudi, Member (T) For the Appellant : Salvaji Raja Shekar Rao, Advocate For the Respondents : M. Maharshi Viswaraj ORDER 1. By way of this application the applicant challenges transfer of the company property in favour of third parties without authorisation from the Board of Directors in a fraudulent, arbitrary and non-transparent manner to the detriment of petitioner and minority shareholders; and against conducting of affairs against the interest of shareho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y, which is a group company of respondent No. 1, without consent of the Board. (ii) Respondents No. 2 to 5 sold valuable property of respondent No. 1 as verified from the record of Sub-Registrar, Rajendranagar. (iii) Properties of respondent No. 1/company are attached by Police, Crime Investigation Department (EOW), Andhra Pradesh in 2002 and the same are still under attachment. 5. Respondents No. 16, 17, 22, 25, 39 and 42 have filed Written Submissions dated 05.10.2021 to this IA broadly contending: (i) That the petition filed under Section 241, 242 of Companies Act, 2013 is hopelessly barred. (ii) The petitioner has suppressed several material facts and approached this Hon'ble tribunal with unclean hands. ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the date of sale deed. Hence this Hon'ble Tribunal cannot set aside the sale transaction. (viii) The Petitioner is holding 2,500 Shares of Respondent Company out of 7,07,600 Shares which constitutes 0.003%. (Copy of shareholding pattern of R1 Company obtained from MCA Website is enclosed). (ix) Respondents No. 2 to 10 have not appeared before this Tribunal till date. All the allegations levelled against the said respondents and no allegations were made against the answering respondents. However, reliefs are claimed against the answering respondents. 6. Respondents No. 30, 34 and 49 have also filed Written Submissions dated 05.10.2021, inter alia, contending that, (i) The applicant has not filed Balance Sheet to substan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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