TMI Blog2020 (8) TMI 430X X X X Extracts X X X X X X X X Extracts X X X X ..... thdrawn. - C. P. No. 60/KOB/2019 And T. C. P. No. 91/KOB/2019. - - - Dated:- 10-6-2020 - Ashok Kumar Borah (Judicial Member) For the Petitioner : Jacob Mathew Manalil For the Respondents : Mohan Pulickkal ORDER ASHOK KUMAR BORAH (JUDICIAL MEMBER). - 1. Since, common issues are involved in both the cases, they are disposed by a common order. The company petitions C. P. No. 60/KOB/2019 and T. C. P. No. 91/KOB/ 2019 (hereinafter referred to as the petitions) were filed by Shri Abraham V. Mani, Varisseril Chackalackal House, Naliyampeedika, Sneha Nagar, Alangad, Ernakulam, Kerala-683 511 (hereinafter referred to as the petitioner ) against Trends Polymer P. Ltd., Kaninad, Puthencruz, Ernakulam, Kerala-682 301 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... family and friends at ₹ 75 per share. After sale of the part of the shares held by the petitioner and his wife, on part payment, the second respondent refused to pay balance amount or buy the remaining shares. Though the petitioner along with his relatives had held more than 80 per cent. of the shares, nothing has been done by him to cause imbalance in the power of equation or to harm the interests of the other promoter and there was properly balanced control of powers to both the promoters until recent manoeuvres. 3. As the petitioner has lost faith in the other promoter who is no more acting in good faith, the petitioner filed these company petitions to wound up on just and equitable ground, yet as it is likely to prejudicially a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... econd respondent on return of the amount paid. (v) To appoint an administrator to take charge of the affairs of the company so as to prevent any oppressive action from the second respond ent and his relatives. (vi) To pass such other order or orders deemed fit and proper in the premises and interest of justice. T. C. P. No. 91/KOB/2019 The petitioner filed this petition before the National Company Law Tri bunal, Chennai Bench on May 17, 2019 and the same was transferred to this Bench and numbered as T. C. P. No. 91/KOB/2019 and was taken up on September 27, 2019. The petition was filed under sections 59, 100, 241 to 244 of the Companies Act, 2013 read with 81, 119, 125, 126, 127 and other relevant rules under the National Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the parties specifically on the question of maintainability issue and pronounced an order on October 18, 2019 affirming that the company petition is maintainable under sections 241 and 242 of the Companies Act, 2013. 5. On February 25, 2020 learned counsel for both the parties submitted that the hon'ble High Court of Kerala has appointed a mediator to sort out the issue and mediation proceedings are underway. On June 5, 2020, learned counsel for the respondents has filed a memo stating that the petitioner and respondents, who are the parties in the mediation before the hon'ble High Court of Kerala settled the dispute between them amicably on specific terms drawn in the form of a mediation agreement. In the fifth paragraph of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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