2019 (6) TMI 771

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....and Ms. Ragima R., Advocates 11th Respondent : For 3rd Respondent: Mr. Arun Kathpalia, Senior Advocate assisted by Mr. Diwakar Maheshwari and Ms. Pratiksha Mishra, Advocates JUDGMENT 'Ricoh India Limited' (Corporate Applicant) filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (for short, the 'I&B Code') before the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench without impleading any lender as party. By ex parte impugned order dated 14th May, 2018 the Adjudicating Authority having admitted application under Section 10 of the I&B Code, the present appeal has been preferred by shareholder. The learned counsel appearing on behalf of the Appellant submitted that the application in Fo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r), which reads as under : "164. If the Company shall be wound up, the Liquidator may with the sanction of a Special Resolution of the Company and any other sanction required by the Act, divide amongst the members in specie or in kind, the whole or any part of the assets of the Company whether they shall consist of the property of the same kind or not." 6. Learned counsel for the Respondent has referred to Article 127, which relates to cover all the decisions to be taken in the meeting, which reads as under: "127. Questions arising at any meeting shall be decided by a majority of votes, provided however that no resolution shall be passed or decision taken by the Board either at a meeting of the Board or any committee th....