Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2020 (11) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (11) TMI 159 - Tri - Companies LawOppression and mismanagement - Section 241-242/244 of the Companies Act, 2013 - alleged unilateral and illegal acts committed by Respondent No. 2 and his branch of the family in relation to the affairs of the company in the manner prejudicial and oppressive to the petitioners and against the interest of the company - HELD THAT:- This Tribunal is of the view that prayer made by the respondent cannot be allowed for joint operation of the bank accounts as it will result in inducting the said respondents back as directors of the Company which cannot be done at this interim stage. This Tribunal hereby allows the prayer made by the petitioner by permitting the banking operations of respondent No. 1 i.e. Madhusudan Motors Pvt. Ltd. to be restored with the conditions that the company will be permitted to operate the bank accounts to ensure day to day bussiness of the company. Only routine expenditure is being permitted to be made from the bank accounts till the final disposal of the company petition by this tribunal or till the further order and it is also directed to respondent No. 1 as well as he petitioner to file the quarterly statements of the expenditure and bank accounts every three months before this Tribunal. This tribunal grants interim relief directing the banks to defreeze the bank accounts of Respondent No. 1 Company - Application allowed.
|