TMI Blog2021 (6) TMI 191X X X X Extracts X X X X X X X X Extracts X X X X ..... tice and accordingly, stays the implementation of circular resolution dated November 3, 2020 till the next date of hearing June 11, 2021 - it is open to learned counsel for respondent No. 7 and learned counsel for respondents Nos. 3, 4, 5, and 11 to file a detailed reply/response/counter to the main appeal (not only through e-filing and also through hard copy before the office of the registry ) and the copy of the same shall be served to the appellants side before June 7, 2021. Soon after the receipt of the reply/response/counter of the respective parties, it is open to the appellants to file rejoinder if any, (not only through e-filing and also through hard copy before the office of the registry ), of course, after serving to le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tandards of meeting of board of directors. As such, it is the stand of the appellants that the Tribunal (National Company Law Tribunal, Chennai Bench) in C. P. No. 794 of 2020 was not correct in not granting the interim relief of suspending the circular resolutions dated November 3, 2020 which was passed in negation of the articles of association of the company. In this connection, on behalf of the appellants it is pointed out that clause 22.4 of the articles of association speaks of to the effect that a circular resolution shall be deemed to have been duly passed by the board, if it has been approved in writing (which include confirmation, via, electronic or other means) by a majority of directors constituting the board for the ti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant after coming to know about passing of the resolution had given his reply and as such, the first appellant cannot have any grievance about non-issuance of any circular resolution. 5. According to learned senior counsel Mr. P. H. Arvindh Pandian for respondent No. 7, the first appellant in is e-mail dated November 6, 2020 had stated that he received everything on November 5, 2020 and further that the first appellant had resigned. 6. At this stage on behalf of respondent No. 7, it is brought to the notice of this Tribunal the e-mail dated April 14, 2020 sent by the first appellant addressed to respondent No. 6 shows that only a decisive action was sought for and as such, the first appellant cannot have any grous ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n a careful consideration of respective submissions advanced on either side, this Tribunal without delving deep, at this juncture, is of the prima facie view that the implementation of the circular resolution dated November 3, 2020 is to be stayed in respect of the first respondent/company, in furtherance of substantial cause of justice and accordingly, stays the implementation of circular resolution dated November 3, 2020 till the next date of hearing June 11, 2021. 11. In the meanwhile, it is open to learned counsel for respondent No. 7 and learned counsel for respondents Nos. 3, 4, 5, and 11 to file a detailed reply/response/counter to the main appeal (not only through e-filing and also through hard copy before the office of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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