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2019 (12) TMI 795 - AT - Companies LawRejection of prayer for Director's remuneration of the respondents - Money Laundering - siphoning of funds - illegal allotment of shares - HELD THAT:- It is true that if we read relief (iv) “Directors’ remuneration be paid to petitioners until outcome of the petition” with this order “the remaining prayers made in the application have already been considered earlier and were found in favour of the petitioners. Therefore, they are rejected.” Then it seems that the Company Law Board has earlier rejected the prayer for directors’ remuneration to be paid by the Company. However, the appellants have not placed on record any such order to show that earlier such prayer was considered and rejected. It seems that inadvertently Company Law Board while deciding the application with other reliefs have made this observation - also the appellants in the reply of present application before NCLT have not raised this ground. It means that they are well aware that earlier Company Law Board or NCLT has not considered and rejected the prayer of respondents for directors’ remuneration. The reasoning of NCLT is justified - appeal dismissed.
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