2020 (2) TMI 1462

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....ed and numbered as C.P. No. 24/2011 before the Company Law Board, Chennai Bench. After the constitution of National company Law Tribunal, it was transferred to NCLT, Chennai Bench and renumbered as TCP/67/2016 (CHENNAI BENCH). This was again transferred to Kochi Bench of NCLT, as the jurisdiction over the case is now vested with this Bench and not renumbered. The main Company Petition has been filed by P. M. Johny & Another against Seaqueen Builders Private Limited & 3 Others (Hereinafter called as 'Company') under Sections 397 and 398 of the Companies Act, 1956. 2. By Order dated 07.12.2017 in TCP No.67/2016, the NCLT, Chennai Bench, substantially allowed the Company Petition filed by the applicant herein. The NCLT Order dated 07.12.201....

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....ndents No. 2, 3 and 4 of the main CP filed an Interlocutory Application (IA) No. 280/2019(Chennai Bench). Pursuant thereto, an Order was passed by NCLT, Chennai Bench on 04.04.2019. However, in Writ Petition No. 11615 of 2019, filed by the petitioner1 of the main company petition, the Hon'ble High Court of Kerala had granted a stay of the Order dated 11.04.2019. subsequently, by Judgement dated 09.08.2019, the Hon'ble High Court has disposed of the Writ Petition, leaving the issue open to this Bench to finalise the proceedings with respect to the aforesaid Order dated 04.04.2019. MA/31/KOB/2019 IN IA/280/2019(Chennai Bench) in TCP/67/2016 6. We found that MA/31/KOB/2019 in IA/280/2019(Chennai Bench), filed by K.J.Paul and others again....

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....ging Director due to non-co-operation of the 1st respondent, who is the only other director of the company. Further stated that the 1st respondent did not participate in any of the 3 Board Meetings called for by the 1st applicant with due notice. As the former Managing Director, he alone has access to the MCA portal since he is the only authorized signatory registered there. Even after repeated requests made by the 1st applicant, the 1st respondent has not so far filed Form DIR-12 with respect to the appointment of 1st applicant as the Managing Director and other statutory forms with regards to the removal of 2nd and 3rd respondent from the Directorship of the Company before the Registrar of Companies (ROC), in compliance with the direction....

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....y the applicant and CA Suresh T. N., M/s Salitha & Suresh, 40/7383, Meenakshi Estate, Rajaji Road, Ernakulam, from the panel of names suggested by the respondents, as two independent auditors to individually undertake true and fair value of shares of the Respondent Company as on 07.12.2017. The Auditors are directed to submit the valuation report within a period of 45 days from the date of this Order to the Respondent Company. Thereafter, the entire process delineated in the NCLT, Chennai Order dated 07.12.2017 should be complied within 12 weeks by the parties. (ii) The fee for valuation of respondent company will be borne by the respondent company itself. (iii) Shri.K.J.Paul, Respondent No.1 in this I.A is directed to file the requis....