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TMI Blog2018 (9) TMI 1838X X X X Extracts X X X X X X X X Extracts X X X X ..... he above, the professional may inform the Hon'ble High Court that the NCLT is taking up the matter for hearing on 03.10.2018 for passing appropriate orders. The professional representing the petitioner may take up appropriate steps towards the same. List this matter on 03.10.2018 for further consideration. At 4.30 p.m. When the matter was taken up in the morning a direction was given to the petitioner to inform the Hon'ble High Court that this Tribunal would take up the matter on 03.10.2018. In view of the rejection of the Writ Petition by the Hon'ble High Court, this matter was heard in the afternoon on an urgent motion by the petitioner. Heard Shree Mahesh A. Athavale, PCS. The contention of the petitioner is that the petitioner h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... authorities for the de-empanelment. The petitioner was making his own efforts to safeguard the interest of the Company and his investments. While the matters stood thus, the Respondent No. 2 had issued notice on 6th September, 2018 for the inclusion of an Agenda item to the Annual General Meeting for the removal of petitioner as the Director of the Company. Subsequently, notice was issued to the members by the Respondent No. 3 proposing a resolution for the removal of the petitioner as the Director. The explanatory statement attached to the said notice, evidently does not contain any reasons, let alone tenable reasons, for the removal of the petitioner as the director of the Company. In exercise of his rights as substantial shareholder of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shareholder of the company, the petitioner has to bear the negative image apart from losing valuable investments made in to the company. Therefore, in this background of the matter, we hereby direct the respondent not to alter the shareholding pattern of the company and also not to give effect to resolution, if any, removing the petitioner as director of the company until further orders. In the event, the respondent had uploaded the resolution removing the petitioner as a director of the company, respondents are directed to immediately remove/ delete the said resolution from the MCA postal, the DIR-12 must be cancelled and take appropriate steps to restore the name of the petitioner as a director of the company. The respondents are dir ..... X X X X Extracts X X X X X X X X Extracts X X X X
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