2024 (3) TMI 1337

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....shab Gupta, Manmeet Singh, Sairam Subramanian, Saloni Shah, Nayana Tara, Vidya Pai, K.G. Raghavan, Sr. Adv., Ishu Gupta and Ashika Jain. ORDER C.A. No. 38 of 2024: 1. Heard the Learned Senior Counsels for the Applicants and Respondents. 2. The present application was filed on 20.03.2024 seeking the following prayers; a. Restraining the Respondent Nos. 1 to 5 from convening and conducting of the proposed Extraordinary General Meeting scheduled on 29.03.2024. b. Directing the Respondent No. 1 to urgently disclose by way of an affidavit by its Chief Executive Officer (i.e., Respondent No. 2) the information as sought in the letter dated 14.02.2024 and 14.03.2024 issued by the Petitioner No.&nbs....

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.... relevant e-mail dated 22.03.2024 placed at Annexure- B (page no.8) of the Additional Affidavit filed by the Applicants. During the hearing, it was pointed out that similar assurance was given by the Company vide e-mail dated 15.02.2024 in response to the request letter dated 14.02.2024 on behalf of the Petitioners in the main CP for furnishing of certain information and documents. The R-1 Company, in response vide letter dated 15.02.2024 (which is placed on record at page no. 1330 of the main CP) informed that the Respondent company had no objection in providing the information and the same will be provided to the Petitioners/Shareholders in the next five business days. However, the same was not furnished. 6. In response to the above, L....

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.... 27.01.2024, the entire process for allotment of shares and other formalities were to be completed within 60 days from the start of the issue date i.e., it was to be done by 29.03.2024. However, the voting window for EGM is being kept open till 06.04.2024, which is beyond 60 days. In this regard, it was explained by the Ld. Senior Counsel for the Respondent that the EGM was called only for the Increase in Authorised Share Capital. 9. Ld. Senior Counsel for the Respondent stated that EGM proposed to be held on 29.03.2024 was only for the Increase in Authorised Share Capital of the R-1 Company. Further, it was in compliance to the proceedings held on 27.02.2024 before this Tribunal in which, the Petitioners in the main CP themselves had ob....