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2022 (5) TMI 319 - NATIONAL COMPANY LAW TRIBUNAL , KOCHI BENCHIllegality committed by Respondents 2 to 4 in collecting various commission amounts from various broadcasters - seeking to disclose on oath the exact nature of arrangement - direction to respondents herein to produce copies of the interconnection agreements that they have executed with various pay channel companies - HELD THAT:- The relief sought for by the applicant, who is the petitioner in the main Company Petition is two-fold. On one stretch he wants to produce various documents by the respondents and on the other stretch he wants to stay the operation of the Annexure A10 minutes of the Board meeting held on 17.07.2021. After going through the records, it is learnt that there is a dispute between the applicant and the respondents. The applicant was the Chairman of the 1st respondent Company for some time and he is well aware of the transaction in the company during the period of his Chairmanship. Without objecting to at that time, now he has come forward with this application after his removal from the Chairmanship stating that whatever is happening in the 1st Respondent company is against the interests of the 1st respondent company. These issues are pending consideration in the main Company Petition and a separate order is not necessary now as to whether mismanagement is there in the 1st Respondent Company. These matters will be considered at the time of final disposal of the Company Petition. Moreover, the respondents in their counter stated that they are ready to disclose an oath the exact nature of the arrangements they have with various Broadcasters and produce all the documents and when demanded by this Tribunal. They are also ready to produce the copies of various interconnection agreements executed by the 1st Respondent company. In view of the submission of Respondents, they are directed to produce the aforesaid documents in a sealed cover before this Tribunal during the time of final hearing of the Company Petition. At this moment it is not necessary to stay the operation of Annexure A 10, by which certain decisions have been taken in the Board of Directors Meeting held on 17.07.2021, such as the outsourcing of maintenance of accounts of the Company, to outsource the procurement of the set-top boxes in bulk and also to increase the shares. Application dismissed.
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