TaxTMI 
TaxTMI 
2022 (1) TMI 620
X X X X Extracts X X X X
X X X X Extracts X X X X
....he board of the 1st respondent as illegal, null and void; 2. For a Declaration that the resolutions passed at the Board Meetings/General Meetings which have been manipulated by the respondents with respect to shareholding/directorship/vesting themselves with authority as illegal null and void and not binding on the 1st respondent company; 3. For a declaration that the alleged amendment to the Articles of Association as illegal, null and void and not binding on the 1st respondent company; 4. For a declaration that the third Respondent is unfit to continue as Director of the first Respondent Company on account of the gross breach of fiduciary duty by the third respondent and the various manipulations and fraudulent ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ed amendment to the Articles of Association as illegal, null and void and not binding on the 1st respondent company; 4. For a declaration that the third Respondent is unfit to continue as Director of the first Respondent Company on account of the gross breach of fiduciary duty by the third respondent and the various manipulations and fraudulent actions initiated by him; 5. For a declaration that form 32 dated 01.10.2007, 21.02.2008 and 04.03.2008 before the Registrar of Companies, Hyderabad reflecting the appointment of Respondents second, four to nine as Directors as illegal, null and void; 6. Consequently for a permanent injunction restraining respondent 2 to 9 from functioning or acting as directors of the firs....
X X X X Extracts X X X X
X X X X Extracts X X X X
....o nine as Director as illegal, null and void; 5) Consequently for a permanent injunction restraining respondents 2 to 9 from function or acting as directors of the first respondent company or holding themselves our as directors of the first respondent company; 6) For declaration the manipulation in the shareholding of the first respondent as shown in the Annexure as illegal, null and void and further declaring the transfer of share shown in the Annexure as null and void; 7) For a declaration that form 18 dated 22.02.2008 filed by the respondent second and the third Respondent showing the shifting of the Registered Office from Sanghinagar to the corporate office at Hyderabad is illegal, null and void. Prayer in ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....xure as illegal, null and void and further declaring the transfers of shares shown in the Annexure as null and void; 8. For a declaration that form 18 dated 22.02.2008 filed by the second and third Respondents showing the shifting of Registered Office from Sanghinagar to the Corporate office at Hyderabad is illegal, null and void;" Prayer in CP No. 75/2008 in TP No. 32/HDB/2016 is as follows: I. "For a declaration that the first and second respondents are guilty of gross breach of fiduciary duty as directors and have acted against the interest of the first respondent company and consequently restraining them permanently from functioning as directors of the first respondent company; II. For a permanent injunctio....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ble Tribunal may deem fit and proper and thus render Justice. 2. It is a case of dispute between the members of the Sanghi family, which has resulted into filing of petition under sections 397 and 398 of Companies Act, 1956. 3. In the course of hearing it is stated that two of the brothers have reconciled with Ravi Sanghi, by way of a settlement. At present the dispute is between Girish Sanghi and other brothers. It is stated that few issues still remain to be resolved. 4. In this regard on a suggestion made by the Tribunal, Shri Venkatavaradan, learned counsel for Ravi Sanghi, Shri S. Chidambaram, learned counsel for Girish Sanghi, Shri Chakravarthy, learned counsel for Anand Prakash and Shri Y. Suryanarayana, learned counsel for ....