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2018 (2) TMI 2009 - Tri - Companies LawWaiver of the requirement of section 244(1)(a) of Companies Act - applicant along with his wife is holding 8.84 per cent, of the total paid-up capital of the first respondent-company, therefore is not fulfilling the requirement under section 244(1)(a) of the Companies Act, 2013, for filing petition under section 241 - HELD THAT:- The respondents in their reply has not established the fact that the application/proposed company petition is an act of malice and/or intended to achieve an oblique purpose or the applicant is ex facie estopped from complaining of the matter on account of acquiescence. Moreover, it is worthwhile to mention that the hon'ble National Company Law Appellate Tribunal in the above referred case has laid down under paragraph 145 of its order that the Tribunal cannot deliberate on the merits of proposed petition under section 241, while deciding an application for "waiver" under the proviso to sub-section (1) of section 244. This Tribunal is not supposed to discuss the merits of the proposed petition. However, on perusal of the contents of the application and the proposed petition, the applicant has made out a case for grant of the waiver of the requirement under section 244(1)(a) of the Companies Act, 2013. Appeal allowed in exercise of the powers conferred under the proviso to sub-section (1) of section 244 of the Companies Act, 2013, by granting the waiver of the requirement under section 244(1)(a) of the Companies Act, 2013, in favour of the applicant.
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