Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2022 (6) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (6) TMI 14 - NATIONAL COMPANY LAW TRIBUNAL , KOCHI BENCHSeeking appointment of Petitioner as the Administrator of the 1st Respondent Company pending disposal of the instant proceedings - seeking in the alternative to appoint an Independent Administrator to manage the affairs of the company pending disposal of the instant proceedings - Section 241-242 of the Companies Act, 2013 - HELD THAT:- It is to be seen whether this is a fit case to appoint an Administrator to manage the affairs of the 1st respondent Company. The petitioner has brought out strong grounds for this purpose which is supported by the R2 appeared. R1 & 3 did not appear. Hence, it is presumed to be taken that they have no objection in such an appointment. Various discussion clearly indicates that all is not well in the affairs of the 1st respondent Company. It appears that the respondents are violating the mandatory stipulations contained in the Companies Act. The affairs of the company are to be put on right track so that the object for which the company was incorporated could be saved. Therefore, it is proper and justifiable to appoint an Administrator to look into and manage the affairs of the Company. Since there is no opposition to the prayer for the alternative prayer in appointing an Independent Administrator to manage the affairs of the company, this Tribunal can pass an interim order to appoint an Independent Administrator as per Section 242(4) of the Companies Act, 2013. Application allowed.
|