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TMI Blog2022 (11) TMI 509X X X X Extracts X X X X X X X X Extracts X X X X ..... t the fixed asset of the company shall not be alienated or disposed of, but at the same time to keep the company to go on, the directors of the company may raise the loans against fixed assets as per the provisions of Section 180 of the Companies Act, 2013. Application disposed off. - IA/21/2022 in CP/35/MP/2022 - - - Dated:- 14-10-2022 - Dr. M. B. Gosavi , Member ( J ) And Kaushalendra Kumar Singh , Member ( T ) For the Appellant : Shantanu Chourasia , Ld. Adv For the Respondents : Rohit Dubey , Sandeep Pandey , Ld. Advs and Alam Khan , Ld. PCS ORDER 1. This application is filed by Mr. Vaibhav Shukla, and others being shareholders of M/s. Mansapuran Petrochem Private Limited for interim relief against the responde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 62 of the Companies Act, 2013 were initiated mala fide only after receipt of notice for transfer of shares of Mrs. Juhi Shukla dated 18.05.2022 physically received by the respondents on the same day on their visit to the residence of petitioners on 18.05.2022. (viii) Vide communication dated 06.05.2022 the petitioners informed respondents that they are looking forward to possibilities to work together and extend support towards requirements mentioned by respondents in their letter. It is clear that the petitioner is bona fide willing to assist the company, however, the requirements mentioned were with regards to raising money through credit/loan as credit financing needed majority shareholders approval, and the petitioners are still ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... response by the learned advocate for the respondent are as follows: (i) All the business affairs of the company, since its inception, have been conducted in a transparent and fair manner by the respondent No. 2 3 and the petitioners have never been interested in the business of the company, though the respondent family had always kept the petitioners informed of each and every decision and actions within the company. (ii) Mrs. Juhi Shukla being not able to actively involved in the day-to-day business of the company post-year 2007 and not being in position to devote time in the company independently suo moto decided to resign from the company and tendered her resignation letter dated 18.07.2007 from the post of directorship due to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... member ample and equal opportunity to subscribe to the shares. (vii) The petitioner, under the intention of not infusing a single rupee within the company, started resorting to illicit means of forcing the respondents to buy out petitioners shares at exorbitant rates, i.e., attempting to create an unnecessary and unreasonable obstruction to the rights issue process. (viii) On 02.06.2022 (post receipt of the rights issue letter of offer on 25.05.2022), the petitioners sent to notices to the company. First, the request for transmission of shares of the late Ms. Juhi Shukla, and second, the objection to the rights issue. Petitioners No. 1 2 purposely issued the back dated request letter dated 18.05.2022 for transmission of shares ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... act is that the right issue has been published and additional shares are allotted to increase the share capital. We do not wish to reverse that. We make it clear that the pattern of share which might have changed in between the petitioner and the respondent inter-say shall be subject to outcome of main petition. 7. In order to safeguard interest of all shareholders of the company, we direct the fixed asset of the company shall not be alienated or disposed of, but at the same time to keep the company to go on, the directors of the company may raise the loans against fixed assets as per the provisions of Section 180 of the Companies Act, 2013. 8. With this, we pass the following order: (i) The parties to petition are restrained from ..... X X X X Extracts X X X X X X X X Extracts X X X X
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