2024 (12) TMI 1466

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....ember ( Judicial ) And [ Jatindranatha Swain ] Member ( Technical ) For the Appellants : Mr. P. H. Arvindh Pandian , Senior Advocate For Mr. Rajkumar Jhabakh , Advocate For the Respondents : Mr. P.S. Raman, Senior Advocate Mr. R. Parthasarathy, Senior Advocate For Mr. P. Giridharan, Mr. H. Siddarth & Mr. PSS Bhargava, Advocates for R2 Mr. Prabhav Sharoff, Advocate for R3 Ms. Mrudula Dixit, Advocate for R4 Mr. Suhrith Parthasarathy, Advocate for R5 Ms. Amritha Sathyajith, Advocate for R8 Mr. T. K. Bhaskar , Advocate for R9 to R13 JUDGMENT ( Hybrid Mode ) [ Oral Judgment : Justice Sharad Kumar Sharma , Member ( Judicial ) ] This is a Company Appeal which has been preferred under Section 421 of the Companies Act, 2013, where the Ap....

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....interest of the Appellants and the Respondent No.1 Company. During the pendency of the Company Petition, the Appellant had filed the aforesaid Interlocutory Application in IA(CA)/229(CHE)/2024 on which the Learned Adjudicating Authority has passed orders which is being challenged here. By virtue of the said Order, the Learned Adjudicating Authority had refused to entertain the pleadings extended by the Learned Counsel for the Appellant regarding the action of Respondents being violative of Section 134 of the Companies Act, 2013, based on which, the Appellant had opposed holding of the AGM. The Appellant had contended that though the Application before the NCLT was filed with sufficient justifications and grounds, the NCLT decided not to in....

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....e Application thus preferred by the Appellant, being IA(CA)/229(CHE)/2024, the precise prayer of the Appellant was to set aside Resolutions, which were passed by the Board of Respondent No.1 Company in its meeting on 12.11.2024, to approve the financial statements for the financial year ended on 31.03.2024, to approve the director's report of the Company for the financial year ended on 31.03.2024, and to convene the 33rd Annual General Meeting of the Company on 11.12.2024. As the AGM was scheduled to be held on 11.12.2024, as the Learned Counsel for the Appellant has submitted, the Appellants also requested that since they want to place their objections qua the Agenda No.1, to adopt the financial statement of the Company for the Financi....