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2020 (2) TMI 1462 - NATIONAL COMPANY LAW TRIBUNAL , KOCHI BENCHSeeking an order appointing an Independent Auditor out of the names suggested by the Applicants and respondents - seeking an order directing the 1st respondent to file before the Register of Companies, the requisite statutory forms including those relating to the appointment of the 1st applicant as the Managing Director, change in the designation of the 1st respondent from ‘Managing Director’ to ‘Director’ and removal of the 2nd and 3rd respondent from the directorship of the 4th respondent company - HELD THAT:- CA Dr. Santha Kumar K., residing at TC39/2738, Sree Priya, Koorkkanchery, Thrissur, is appointed from the panel of names suggested by the applicant and CA Suresh T. N., M/s Salitha & Suresh, 40/7383, Meenakshi Estate, Rajaji Road, Ernakulam, from the panel of names suggested by the respondents, as two independent auditors to individually undertake true and fair value of shares of the Respondent Company as on 07.12.2017. The Auditors are directed to submit the valuation report within a period of 45 days from the date of this Order to the Respondent Company. Thereafter, the entire process delineated in the NCLT, Chennai Order dated 07.12.2017 should be complied within 12 weeks by the parties - The fee for valuation of respondent company will be borne by the respondent company itself. Shri.K.J.Paul, Respondent No.1 in this I.A is directed to file the requisite statutory forms immediately, including those relating to the appointment of the 1st applicant as the Managing Director, change in the designation of the Respondent No.1 from ‘Managing Director’ to ‘Director’ and removal of the Respondent No.2 and Respondent No.3 from the directorship of Respondent No.4 Company. He is also directed to participate in the Board Meetings in future and extend his co-operation for the smooth conduct of business of the respondent company. Application disposed off.
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