Aggrieved Persons - removal of nominee director of the Corporate ...

Nominee Director Removal During Liquidation Requires Ordinary Resolution as per Insolvency Code and Article 140(4) Compliance.

April 9, 2020

Case Laws Companies Law AT

Aggrieved Persons - removal of nominee director of the Corporate Debtor - powers of Directors in a ‘Compulsory Liquidation’ - There is no simmering doubt that the Directors of a Company appointed by the shareholders in the ‘Annual General Meeting’ are to be removed as per ‘Ordinary Resolution’ passed in the ‘General Body Meeting’. - There is no different opinion on this well settled proposition - the proposal submitted by the Liquidator in terms of the power bestowed on him under the I&B Code, read with Rule, Article 140 (4) of the ‘Articles of Associations’ cannot be ignored - AT

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Aggrieved Persons - removal of nominee director of the Corporate ...

Nominee Director Removal During Liquidation Requires Ordinary Resolution as per Insolvency Code and Article 140(4) Compliance.

April 9, 2020

Case Laws Companies Law AT

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