Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2019 (5) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (5) TMI 603 - NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCHMaintainability of petition before NCLT - oppression and mismanagement - section 8 of the Arbitration and Conciliation Act, 1996 - Jurisdiction - Whether the petition is barred under law in view of the application filed under section 17 of the Arbitration and Conciliation Act before the sole arbitrator and the petitioner voluntarily submitting himself to the jurisdiction of arbitral tribunal? - Whether the acts complained of in the petition can be adjudicated by the sole arbitrator while adjudicating issues before him? - HELD THAT:- The contentions with which the application under section 17 of the Arbitration and Conciliation Act is filed and the contentions raised in the main company petition are separate. Hence the application filed under section 17 of the Arbitration and Conciliation Act does not preclude the petitioner herein to agitate their grievance of oppression and mismanagement in the petition. Apart from that the acts complained of, as said above, cannot be adjudicated by the sole arbitrator since the powers available to this Tribunal cannot be exercised by him and the reliefs as sought in the petition are not arising out of any contractual obligation - Issues settled in favor of petitioner. Whether the petition is dressed up to suit the requirements under sections 241 and 242 of the Companies Act, 2013? - HELD THAT:- The facts stated in the petition relate to financial discrepancies, non-service of notice of the extraordinary general meeting/annual general meeting and appointment of directors, etc. The said contentions are such that the National Company Law Tribunal alone can hear and decide the said issues. Hence, the contention of the applicant that the main company petition is dressed up to suit the requirements under sections 240 and 241 of the Companies Act is not acceptable - the issue settled in favour of the petitioner in the main company petition. The company petition is maintainable - List the matter for final hearing on October 4, 2018.
|