2020 (1) TMI 1588

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....follows: - "Be pleased to stay the removal of Dr. Kedarnath Panda, the Petitioner No. 1 from the Directorship of the Company, proposed in the Extraordinary General Meeting of the Company scheduled to be held on 20.01.2020, stay on his discontinuation of service and stay on restriction to enter hospital premises till disposal of the Company Petition CP No. 98/CTB2019. " 2. The petitioner submits that CP No. 98/CTB/2019 under Section 241-242 of the Companies Act, 2013 is pending on the file of this Tribunal. The petitioner did not succeed in getting interim relief before this Tribunal. Aggrieved by this the petitioner moved to the Hon'ble NCLAT under Company Appeal (AT) No. 283 of 2019. The Hon'ble NCLAT passed an ex-parte ad inter....

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....e: - a. "An order be made and/or permission be granted for allowing the present management to call Board Meeting and consider the agenda mentioned in Para No. 18 of the Application as proposed by the Bank. " The applicant gives up all other reliefs prayed for. The Petitioner/Respondent has approached the Bank for renewal /disbursement of financial facilities of the Company. However, the application under Section 241-242 is pending on the file of this Tribunal. The Petitioner/ 1st Respondent Company has filed this IA seeking permission to call for Board Meeting, to pass necessary resolutions, for seeking Bank loan. The respondent Dr. Kedarnath Panda has no objection, in respect of Board Meeting. However, his grievances are that the minu....

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....020 at 10:30 A.M. The respondent company shall borne the entire cost. The petitioner shall inform the details of booking to the respondent by 10:00 A.M. tomorrow the Saturday 18th January, 2020. Failing which the respondent shall decide the venue and inform the same to the petitioner before 5:00 P.M., Saturday 18th January, 2020. Dr. Kedarnath Panda, the petitioner was also present in Court. In course of the arguments in IA No. 22/CTB/2019, the petitioner and his counsel said that the petitioner does not want to attend the Board Meeting to be held on 20.01.2020. 7. In IA No. 22/CTB/2020 both sides submitted their stand. 8. The petitioner submits that the petitioner is promoter/Director and erstwhile Managing Director of the Company. He wa....