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2020 (8) TMI 698 - AT - Companies LawOppression and mismanagement - Validity of notice issued - company petition is pending since 2017 - removal of appellant/petitioner as a director of the Respondent Company - appellant/petitioner has been pointed out that the notice dated 6.2.2017 is a defective as in the notice no explanatory statement is given - HELD THAT:- After passing of this order more than two years has been lapsed but the company petition cannot be decided. It is pointed out on behalf of the Respondents that taking advantage of the interim order passed on 14.3.2017 the appellant representing himself as a director of the company has taken various steps which are detrimental and prejudicial to the interest of the Respondent NO.1 company as well as shareholder members. The Respondents are not being allowed to enter into a new project due to appellant/petitioner activities. The grievance is that impugned order is in contradiction of the earlier order dated 14.3.2017. Earlier order dated 14.3.2017 was passed as the notice for removal of appellant was not in conformity with the Section 169 read with Section 115 of the Companies Act 2013 as in the notice no explanatory statement was given. Now the Respondents are ready to serve fresh notice in conformity with the Companies Act, 2013. Section 242(4) of the Companies Act, 2013 empowers the NCLT to pass any interim order which it thinks fit for regulating the conduct of the company’s affairs. Hence the NCLT considering the change circumstances in the matter has modified its own ex parte order dated 14.3.2017, nothing wrong in it. It is not argued that the impugned order is detrimental and prejudicial to the interest of the Respondent Company. It is apparent that both the parties agreed to hold EOGM by the Board of Directors under the Chairmanship of Special Officer to be appointed by the Tribunal. Hence the impugned order is well reasoned order - Appeal dismissed.
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