2020 (12) TMI 249

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....at with Mr. R. Dubey, for Respondent No.3. P.C:- Heard learned Counsel for the parties. 2. In this case, though by order dated 20th October, 2020, the case was fixed on 3rd December, 2020, on a praecipe filed by learned Counsel for the petitioner, matter is taken up today. 3. We find that Respondent No.3 has already filed reply affidavit. 4. Petitioner has made an interim prayer tha....

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....ment that deposit of Rs. 1 lakh is to be made to contest for directorship. 6. We have heard learned Counsel for the contesting parties at some length. 7. Section 160 of the Companies Act, 2013 being the relevant provision is quoted herein below:- "160:- Right of persons other than retiring directors to stand for directorship:- (1) A person who is not a retiring director in ....

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....such resolution. [Provided that requirements of deposit of amount shall not apply in case of appointment of an independent director or a director recommended by the Nomination and Remuneration Committee, if any, constituted under sub-section (1) of section 178 or a director recommended by the Board of Directors of the Company, in the case of a company not required to constitute Nomination....