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TMI Blog2021 (2) TMI 165X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Rule 34 for an order declaring that the applicant is not a necessary party and to remove him from the array of parties in the Company Petition No. 12/KOB/2020. 2. The Applicant herein is the Statutory Auditor of the 1st Respondent Company in C.P. No. 12/KOB/2020. The proceedings were initiated by two minority shareholders in the respondent company under Sections 241 and 242 of the Companies Act, 2013 on grounds of oppression and Mismanagement. The applicant stated that by filing I.A. No. 107/2020 dated 14.07.2020, the Respondent Nos. 1 and 2/Petitioners of the Company Petition had sought impleadment of the Applicant herein as the Additional 5th respondent in the above Company Petition. A Counter Statement to the said IA was filed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is statutory and fiduciary duties properly whereby the illegal activities of the other respondents continued, causing loss to the petitioners and other shareholders. 6. This Tribunal heard the argument advanced by the learned counsel on either side and had gone through the documents placed on record. On going through the proceedings of this case, it is seen that after considering all the contentions raised by the applicant/ 5th respondent in the IA/107/KOB/2020, this Tribunal allowed the IA and directed to implead the 5th respondent in the party array, for the reasons stated in that order. 7. In Vidhur Impex And Traders Pvt. Ltd., And Others V. Tosh Apartments Pvt Ltd. and Others (Air 2012 Sc 2925), the Hon'ble Apex Court having consi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kalavath Road, Palarivattom, Cochin-682025 be impleaded as Respondent No.5 in the above Company Petition. 9. Whether a party is a proper/ necessary party for an effective and efficacious adjudication of the controversy involved in a given case, although it is for the concerned Tribunal/ Court/ Authority to subjectively consider the same based on facts and circumstances of a case, which will be evident from C.P/12/KOB/2020 only. In this regard, with an utmost care and caution a finding has to be rendered by passing necessary orders in an objective and dispassionate manner for not removing R5 from party array and to take part in the main arena of proceedings. Undoubtedly, a just, fair and final order in main Company Petition can only be pas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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