9911796707
TMI Blog2021 (6) TMI 731X X X X Extracts X X X X X X X X Extracts X X X X ..... eived an email from the Respondent No. 2, in which it is stated that Respondent Company issued notice dated 30.11.2020 to conduct the 11th, 12th, 13th, and 14th Annual General Meetings for the years ended on 31.03.2016, 31.03.2017, 31.03.2018 and 31.03.2019 respectively to be held on 11.12.2020. The above notices to conduct the meetings were challenged before this Tribunal in IA/212/KOB/2020 in TCP/07/KOB/2019. IA/212/KOB/2020 stands disposed of vide order dated 10.12.2020 as under:- "Upon hearing of the parties and on perusal of the materials on record, this Tribunal is of the opinion that the relief to stay the AGMs to be held on 11.12.2020 cannot be granted. However, the respondents are directed that the decisions/resolutions/business ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Report and the Balance Sheet and Profit and Loss Accounts as on 31.3.2017, 31.03.2018 and 31.03.2019. No Directors Report was circulated or presented at the meeting. 6. In the 15th Annual General Meeting the Petitioner had objected to the lack of notice of the Balance Sheet and P&L and non-circulation of the Director's Report and Auditors Report. Despite objected to by the Petitioner and other minority shareholders, the Balance Sheet and P & L Account was passed. 7. The aforementioned developments happened subsequent to the filing of the Company Petition and the order dated 10.12.2020 in IA/212/KOB/2020 are further instances of Oppression of minority shareholders and mismanagement of the affairs of the Company. Therefore, the petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it can be rightly assumed that the NCLT Rules framed never envisaged a scenario where events that have happened 2-3 years after filing of the Company Petition should be considered and reliefs sought duly amended. 11. The order dated 10.12.2020 passed by this Tribunal allowed the Respondents to take advantage of the "fresh start scheme, 2020" and regularise and up-to-date the filings pending before the RoC. The "fresh start scheme 2020" allowed the Respondents to hold all the pending AGMs and file the necessary documents like annual audited accounts etc and effect statutory compliance before the ROC, Kerala. This is a one-time scheme offered by the Ministry of Corporate Affairs for statutory compliance so as to avoid penalty and striking o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Applicant alleges the subsequent events of acts of oppression and mismanagement occurred in the Respondent Company while conducting the Annual General Meetings. 14. It appears from the records that the original Company Petition was filed on 03.07.2019 before the Chennai Bench. The Applicant alleged procedural irregularities occurred while convening the Annual General Meetings to avail the benefit of the "Companies Fresh Start Scheme 2020" for the financial years 2015-2016, 2016-2017, 2017-2018, 2018-2019 according to the Companies Act, 2013. The complaint of the Applicant in the Original Company Petition is that no AGM for the Financial Years 2015-2016 and 2016-2017 was conducted. 15. At this juncture it is pertinent to consider the deci ..... X X X X Extracts X X X X X X X X Extracts X X X X
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