Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2011 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (2) TMI 1274 - HIGH COURT OF ANDHRA PRADESHPermission to convene the extraordinary general meeting - Held that:- Whether the arbitration proceedings initiated by Zenotech against a subsidiary of Ran-baxy are likely to be affected by Ranbaxy getting a seat on the board of Zenotech is a matter to be decided by a properly constituted board of Zenotech. The submission of learned counsel for Dr. Jayaram that he may be permitted to go out of Zenotech is a matter to be considered in the company petition filed by him (C. P. No. 51 of 2009). Since Ranbaxy is the majority shareholder it is necessary that their nominees are on the board of Zenotech in its large interest. In the facts and circumstances of the case, I am inclined to allow this petition by granting permission to the applicant (Ranbaxy) to convene the extraordinary general meeting of Zenotech (respondent No. 1).
|