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2018 (9) TMI 1838

nterim orders are not passed, the petitioner will suffer irreparable loss which cannot be compensated in terms of money for the reason that in the event the company which runs the hospital suffers bad name, being the director and substantial THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI DIVISION - II, MUMBAI 4 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. The respondent had uploaded the resolution removing .....

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s in the company and apart from that he had advanced unsecured loans for the smooth functioning of the company. Further, the petitioner was the original signatory to the Memorandum along with the Respondent No. 2 and another person. The company was incorporated in the year 2006. Subsequent to the incorporation, the objectives, as mentioned in the Memorandum has been carried out, the construction of 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 c .....

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e petitioner had approached this Forum for an appropriate relief on 19th September, 2018 and as the Tribunal was on vacation and on account of transfer of the Judicial Member who is supposed to hold the vacation court was transferred, the matter could not be taken up and appropriate relief could not be passed. However, the petitioner had approached the Hon ble High Court, Nagpur Bench under Article 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 submitt .....

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