TMI Blog2022 (9) TMI 1565X X X X Extracts X X X X X X X X Extracts X X X X ..... ken into consideration the reliefs sought for in I.A. No. 3084 of 2022 whereunder, the Applicant/Appellant sought for stay of the operation of the effect of the resolution passed during the EGM dated 20.07.2022 and also stayed of the removal of the independent Directors. A perusal of the impugned order shows that the matter is posted on 07.09.2022. The instant Appeal disposed off with a request to the National Company Law Tribunal (Kolkata Bench, Kolkata) to take up the matter on the fixed date i.e. 07th September, 2022 and decide the matter at the earliest and consider all these points raised by the parties. - JUSTICE ANANT BIJAY SINGH, MEMBER (JUDICIAL) AND MS. SHREESHA MERLA, MEMBER (TECHNICAL) For the Appellant : Mr. Abhijeet Sinha, M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... record for the petitioner. Rejoinders if any shall be filed within two weeks thereafter by serving copies on the Ld. Counsel on record for the respondent. 14. List this matter on 07.09.2022. 4. From the perusal of the order dated 25.07.2022 it appears that notices were issued on the Respondents and the Respondents were directed to file Reply Affidavit and the matter was directed to be listed today i.e. on 01.09.2022. 5. In the meanwhile, the Ld. Counsel for the Appellant filed application bearing I.A. No. 3084 of 2022 on 30.08.2022 for bringing on record the subsequent developments which have taken place in the matter including the email dated 28.07.2022 (Annexure-A-2 of the I.A.). Pursuant to the EGM which was held on 20.07.2022 the board ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anies Act, 2013 and special notice under Section 115 of the Companies Act, 2013. 8. It is the case of the Appellant that the Respondents had resorted to this Act by force as they could not do so by way of any judicial proceedings and hence fall within the provisions of section 242 (4) of the Act. 9. Ld. Solicitor General Mr. Tushar Mehta appearing for the 3rd Respondent/Administrator of SREI Infrastructure Finance Limited drew our attention to the paras 8 and 9 of the impugned order and stressed on Corporate Democracy in support of his arguments that holding 51% of the shares, the Respondent Company, by way of a majority decision has the power to convene the EGM and that there is no complaint that the requisition of the meeting itself is wr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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