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2018 (9) TMI 336 - AT - Companies LawOppression and mismanagement - withdrawal of company petition by Respondent No.2 - Held that:- As seen the Order of withdrawal pointed out by the Appellant, copy of which is at Page – 1 of Diary No.2247. The Order shows that when CP 62/2014 was taken up, the learned Member of the Company Law board noted that the Petitioner had filed for withdrawal stating that the Company Petition could not be listed due to technical reasons and so he wanted to withdraw the same. The Member (Judicial) of the Company Law Board recorded that since the Company Petition had not been moved before the Bench, the same was being dismissed as ‘withdrawn’, “giving liberty to the petitioner as permissible under the law”. When this withdrawal took place, the Company Petition 27(ND) of 2013 was already pending. If the petition was withdrawn with liberty to the present Respondent No.2, it was the option of the Respondent No.2 to pursue his remedy even by defending the petition which had been filed by the Appellant. Thus, we do not find that the Appellant can take any advantage by such a withdrawal. Merely by such withdrawal, the Appellant does not become a shareholder and cannot be heard saying that there was legal increase in the authorized share capital of the Respondent No.1 Company as claimed by him.
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