9911796707
TMI Blog2024 (11) TMI 803X X X X Extracts X X X X X X X X Extracts X X X X ..... Directors leading to non-compliances of statutory and legal requirements of the company. In the interest of the company, the Ld. NCLT is requested to nominate an independent Director to the Company for meeting of Board of Directors wherein only the Agenda for statutory and legal compliances be taken up. The Independent Director be given usual statutory remuneration and in case of deadlock, will have a casting vote. The Ld. NCLT is requested to appoint the independent Director within three days, considering the urgency of meeting the statutory compliances by the Company. Appeal disposed off. - [ Justice Yogesh Khanna ] Member ( Judicial ) And [ Mr. Ajai Das Mehrotra ] Member ( Technical ) For the Appellant : Mr. Gaurav Mitra, Mr. Adarsh R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x authorities and for authorization and engagement of counsels for the litigation pending before various enquiry judicial/quasi - judicial authorities both the directors have agreed to have the Board meeting for that purpose and settle these issues. It is directed that both the sides cooperate with each other in this meeting and conclusively settle the urgent pending issues. List the matter on 07.11.2024 along with IAs. 5. It is the submission of Learned Counsel for the Appellant that subsequent to the order dated 05.09.2024, a meeting of Board of Directions was called on 08.09.2024 and none of the Agenda items were taken up due to non-cooperation of the Respondent. The complete deadlock between the two shareholders/directors has led to pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or to the Company on remuneration/salary similar to other Directors. Considering the Oppression and Mismanagement on the part of Respondents 2 and 3 it is directed that in the Bank Accounts of the Respondent No.1 Company, the Respondent No. 2 and Appellant shall be Joint Signatories and the accounts shall be liable to be operated jointly with immediate effect. In case of deadlock in any transaction if Respondent No.2 or Appellant do not agree on a transaction, independent Director will have a casting vote and Joint Signatories shall be bound to act accordingly. The independent Director will ensure that company follows provisions of the Companies Act and Rules. 8. The Learned Counsel for the Appellant further submitted that the Tribunal has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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