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2018 (9) TMI 1838

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..... 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. 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. - C.P. 3612/241-242/(MB/2018) - Dated:- 26-9-2018 - SHRI BHASKARA PANTULA MOHAN, MEMBER (J) AND SHRI V. NALLASENAPATHY, MEMBER (T) ORDER 1. C.P .....

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..... the hospital is completed and is functioning till this date. Sometime in the middle of 2017 the petitioner on the advice of the respondent No. 2 and for the smooth functioning and betterment of the company and to facilitate bank finances, had transferred about 17% shares to the Respondent No. 2. It has come to light that the competent committee constituted by the Government had de-empanelled the Respondent No. 1 hospital from the MGPJAY scheme which was intended to serve the poor patients. As a result of de-empanelment, the petitioner submits, the company would lose lot of income and would incur bad name in the medical circles. The petitioner who invested his money in the company made efforts to find out the reasons as to why such de-empan .....

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..... 226 of the Constitution projecting the reasons and the urgency involved in the matter. The Hon ble High Court had passed an Interim Order on 21st September, 2018 stating that the Annual General Meeting may go on but the outcome therein shall not be given effect to till next date and posted the matter today for further consideration. It is submitted by the petitioner that the Hon ble High Court had dismissed the said Writ Petition. The petitioner, left with no other choice had moved urgent motion before this Bench praying for ad-interim orders. We have considered the contentions, statements made by the petitioner and we are convinced that there is a prima facie case in favour of the petitioner and balance of convenience is also in favour of .....

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