Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2022 (5) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (5) TMI 86 - Tri - Companies LawOppression and Mismanagement - Seeking to implead the petitioners as additional Respondents - seeking to permit the petitioners to file a counter affidavit - allegation is that the majority shareholding obtained by the 3rd respondent was by adopting illegal means and by misinterpreting the order of NCLT, Chennai Bench - HELD THAT:- This application has been filed by two shareholders for their impleadment as additional respondents in Company Petition No. TCP/34/KOB/2019 which has been filed during 2019 and since the pleadings are complete, the matter is in the list for final hearing. At this belated stage, these applicants have come forward for their impleadment, that too in a petition filed under Section 241&242 of the Companies Act,2013. Such petitions are maintainable only when an eligible person files the same in terms of Section 244 of the Companies Act. Instead of filing a Company Petition (for which these applicants are not eligible), they are trying to intervene in this Company Petition. Considering this application on merit, on-going through the documents annexed and the arguments advanced by the learned Counsel for the parties, it is held that an application for impleading a party should carry all the relevant facts and circumstances, which show/prove that the person making such application for impleadment is a necessary/proper party. On the basis of the documents produced and submissions of the applicants, it is opined that the applicants have to establish how their rights as a shareholder will get affected by any order that may be passed by the Tribunal. The applicants failed to prove that they are necessary and proper parties as per Section 241 of the Companies Act, 2013, who is in the management of the affairs of the Company against whom any acts of oppression and mismanagement are complained of. Moreover, merely holding of shares cannot be regarded as a sufficient ground for allowing all the shareholders to join the litigation and for adjudication of the issues raised. In the present Company Petition, the applicants are not necessary parties and they cannot be impleaded as respondents. Their remedy is to file a Company Petition, to which also they are not eligible as they do not have the required percentage of shares in the company. This application is devoid of merit and accordingly the same is dismissed.
|