RAJIV SHAKDHER,J. - (1.) This is an appeal directed against the judgement and order dated 28.05.2015, passed by the Company Law Board, Chennai Bench, in C.P. No.40 of 2009. 1. 1. The appellant herein was the petitioner before the Company Law Board (hereafter referred to as "CLB").
(2.) By virtue of the said C.P. No.40 of 2009, the appellant/the petitioner had sought the following reliefs, based on the assertions of oppression and mismanagement of the affairs of the respondent No.1, i.e., Devi Polymers Private Limited (in short "DPPL"): (i) With a view to regulate the affairs of the first respondent company, it is just and convenient that the respondents should be restrained from holding any meeting in particular Extra-Ordinary General Meeting on the lines contained in the notice dated 17.06.2009 either on 27.06.2009 or any other dates. (ii).Permanent injunction restraining the respondents from interfering with the carrying on duties enjoined on the petitioner in relation of Unit 'C' at NP 23 and 24 Developed Plot, Ekkattuthangal, Chennai 600 097 of the first respondent. (iii).Permanent injunction restraining the respondents from disqualifying / removing the petitioner from the post of Executive Director of the first respondent company. (iv).For costs and such other further reliefs that the Honourable Company Law Board deem fit and proper given the facts and circumstances of the case and thus render justice.
(3.) As is usual the case in such like actions, this petition was filed under sections 397, 398, 402 and 403 of the Companies Act, 1956 (in short the "1956 Act"). The immediate instigation for instituting the action and seeking the aforementioned reliefs, was the clear possibility of the appellant being removed from the post of Executive Director of DPPL. 3. 1. Coupled with the plea for grant of injunction, the assertion made was that the appellant would be prevented from managing the affairs of Unit C, which is one of the units of respondent No.1, located at NP 23 and 24 Developed Plot, Ekkattuthangal, Chennai 600 097.;