2022 (2) TMI 256

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....elaprolu Rajani, J. (Member (J)) 1. This Application is filed by Mr. B.R. Jayaram who is the Shareholder in Respondent Company. Earlier this Applicant has moved this Tribunal by way of Company Petition No. 84/241/HDB/2017 (TCP No. 119/241/AMR/2019) under Section 58, 59, 213, 241 and 242 of the Companies Act, 2013, seeking various reliefs against the Respondent Company. Vide its order dated 08.0....

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....ting a valid quorum for the said meeting. The Applicant has become the majority shareholder by virtue of the above mentioned order. But he is handicapped for calling any General Meetings (GM) due to the non-existence of any directors on the Board of the Respondent Company and he is unable to resume business activities in the Respondent Company. It is stated that the directors have to be appointed ....

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....e meeting. 5. As regards the quorum specified under Section 103 of the Companies Act, 2013, the Counsel submits that by virtue of the order dated 08.06.2020, the Applicant was declared as a shareholder for as many shares as would constitute 60.08%. The attention of this Tribunal is drawn to Section 98 of the Companies Act, 2013, which is as under: "Section 98:- (1) If for any ....

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....r articles of the company: Provided that such directions may include a direction that one member of the company present in person or by proxy shall be deemed to constitute a meeting. 6. The counsel relies on the proviso to contend that the Applicant can be held as sufficient to form a quorum. Hence considering that the Applicant is the majority shareholder, the Application is allowed. ....