TaxTMI 
TaxTMI 
2019 (6) TMI 771
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....SI LAL BHAT J. (Judicial Member) For Appellant : Mr. Sachin Datta, Senior Advocate assisted by Ms. Prity Sharma and Mr. Sidhartha, Advocates For 1st Respondent: Mr. Krishnendu Datta, Mr. Vikram Sobti, Ms. Apartna Trivedi, Ms. Pooja Mahajan and Ms. Mahima Singh, Advocates For 2nd, 10th and Ms. Vaishnavi Rao and Ms. Ragima R., Advocates 11th Respondent : For 3rd Respondent: Mr. Arun Kathpalia, S....
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....General Meeting (EoGM) was conducted for taking decision to file an application under Section 10 of the I&B Code for declaring insolvent of the 'corporate applicant'. 2. It was alleged that the 'Board of Directors' in its meeting only decided to file an application under Section 10 of the I&B Code though it was not required. 3. Reliance has been placed on decision of this Appellate Tribunal in '....
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.... 5. Learned counsel appearing on behalf of the Appellant relied on Article 164 of the 'Articles of Association of 'Ricoh India Ltd (Corporate Debtor), 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 an....
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....e Company." 7. We have heard the learned counsel appearing on behalf of the Appellant and learned counsel for the Respondent and perused the record. 8. In the case of 'Gaja Trustee Company Private Limited' (Supra), the Articles of Association (Article 1.1.3; 9.1 and 9.2) specifically provided for an 'affirmative vote' which by any meeting of the shareholders for liquidation. As per Article 179 o....