2020 (12) TMI 760

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....r. Karunakaran C.K., Advocate For the Respondents : : Mr. Madhu N.Namboothiripad (for R1 & R2) Mr. Keethivas Giri, (for R3 & R4) ORDER 1. This Order has arisen upon the application filed by the Applicant/Petitioner in TCP/7/KOB/2019 under Rules 11 and 32 of NCLT Rules 2016 seeking a stay of conduct of the Annual General Meetings of the R1 Company proposed to be held on 11.12.2020. 2. T....

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....e being managed in a fraudulent manner which causes serious prejudice to the petitioner and other shareholders of the Company. 4. The Applicant has also stated in the IA that the Registrar of Companies, Kerala had also filed a report dated 18.09.2019 setting out the various illegalities committed by the Respondents. 5. The Applicant further submitted that on 5.12.2020, Saturday, he received ....

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....the Articles of Association of the R1 Company. 6. In the Company Petition, the applicant/petitioner has specifically prayed for the appointment of an interim administrator to take charge of the Management and affairs of the Company and for the conduct of the AGM by an Independent Observer. 7. The Applicant submitted that no prejudice will be caused to the Respondents if the proposed AGMs are....

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....here were no plea of acting in prejudicial interest to the petitioner as alleged. Besides, according to the Act, it is not mandatory to submit the annexure/documents to the members along with the Notice of holding the AGM. In fact, these AGMs are essential to get the benefit of "Companies Fresh Start Scheme 2020" introduced by the Government of India, the last date for submission of the Scheme is ....