2026 (5) TMI 1107

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....7. ORDER The Company Appeal (AT) No.268/2024 is filed against an impugned order dated 30.07.2024 wherein the Ld. NCLT dismissed IA No.21/2023 in Company Petition No.31/2020. 2, The brief facts of the case are as under:- a) The Respondent No.1 company was incorporated on 24.04.2003 and was involved in the business of manufacturing wheat flour and allied agricultural based products; b) In the year 2006, the Respondent No.2 invested in Respondent No.1 company and in return Respondent No.2 and his family members were given 60% shareholding in Respondent No.1 company. Subsequently Respondent No.2 was appointed as a director of Respondent No.1 company and Appellant No.2 had resigned as director; c) on 08.10.201....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ter of offer diluting the shareholding of appellants; h) qua the first letter of offer, an IA No.8/2021 was filed and qua the second letter of offer of issue of shares and for third letter of offer, IA No.25/2021 and IA No.22/2023 were filed. After diluting the shareholding of appellant below 25% the Respondent vide notice dated 18.03.2023 decided to convene an EOGM on 18.04.2023 for passing special resolution for selling of the assets, land and building of Respondent No.1. IA No.21/2023 in Company Petition was thus filed for stay on the holding of EOGM dated 18.04.2023 and for restraining the Respondents from disposing of the assets of the company; i) the said IA No.21/2023 was, however, dismissed by the Ld. NCLT holding ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....es raised in these IAs were very much covered in IA No.21/2023, hence no further orders needs to be passed. 6. Further Company Appeal (AT) No.297/2024 is filed wherein IA No.8/2021 seeking amendment of company petition by bringing on record the grounds and prayer qua the allotment of new shares vide letter of offer dated 07.10.2020 and 23.07.2021 was also dismissed on similar grounds viz IA No.21/2023 is since disposed of, hence no further interference is required. 7. Similarly, Company Appeal (AT) No.298/2024 is filed to challenge the impugned order whereby IA No.22/2023 seeking amendment of company petition to bringing on record the grounds and prayer qua quashing of letter of offer dated 22.10.2021 was also dismissed with similar r....