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2010 (4) TMI 603 - HC - Companies LawWhether at the time of the preliminary hearing that the impugned order is ex facie illegal having been passed without affording any hearing to the appellant which was required to be given to him before removing him as a Director of MRL and cancelling his entire shareholding which he had acquired by paying lakhs of rupees? Held that:- by way of abundant caution only application for condonation of delay had been moved and benefit of section 14 of the Limitation Act was being sought in the event of this Court finding the appeal to be time-barred. Learned counsel further submitted that the impugned order is causing undue hardship to the appellant because of his having been removed from the Directorship of MRL and cancellation of his entire shareholding by one stroke of pen of the CLB and, therefore, that order should not be allowed to continue to operate against the interests of the appellant. Thus the contentions raised in the appeal need to be gone into and notice deserves to be issued to the respondents. Notice of this appeal, condonation of delay application (being CA No. 785/09) as well as stay application (being CA No. 784/09) is ordered to be issued returnable for 30-4-2010. Till then, the operation of the impugned order dated 31-1-2008 passed by the CLB insofar as it has cancelled the shareholding of the appellant and Directorship in MRL is stayed.
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