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2016 (10) TMI 600 - NATIONAL COMPANY LAW TRIBUNAL MUMBAI

2016 (10) TMI 600 - NATIONAL COMPANY LAW TRIBUNAL, MUMBAI - TM - Restraint orders against the EOGM scheduled to be held for removal of the Petitioner as director of the Company - Held that:- The petitioner and Respondents 2 & 4 agreed for the Respondents to take exit from the Company on valuation of shares taking into consideration of the monies invested and taken from the company by either parties that is the petitioner and the Respondents as well. - CP. No. 07/2016 - Dated:- 11-7-2016 - SHRI B .....

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the Company, this Bench, having seen R1 Company incorporated with three partners as shareholders each with 33% shareholding and with small establishment, suggested both the parties for a settlement by one exiting from the Company. On this suggestion, the petitioner and Respondents 2 & 4 agreed for the Respondents to take exit from the Company on valuation of shares taking into consideration of the monies invested and taken from the company by either parties that is the petitioner and the Res .....

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choice to value the assets of the company. 2. That Auditor shall audit the company since incorporation of R1 company by ascertaining how much money was put in the company by each group and how much company money was taken out by each of these groups from the company and not shown in the records of the company or shown in the accounts and not used for the company. If any additional money, apart from the paid up capital showing in the company, was put in by any of the parties, it shall be shown as .....

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rt from himself. R2 & R4 will also continue as directors until full consideration receivable by R2-4 is paid to them by the petitioner. 4. That the Road passing through R1 Company land to the company namely Ram Metal Pvt. Ltd run by R2 & R4 shall be valued and on such valuation, R2 &4 shall pay 50% of its valuation to have joint rights on the said Road to reach to R2 & R4's Company. For still there being fifty percent right to R1 over the said land even after payment of 50% o .....

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