Bikki Raveendra Babu, Member - (1.) This petition is filed by a shareholder in M/s. Rudraksh Synthetics P. Ltd., (hereinafter called as the first respondent company) claiming that himself and his wife together hold 32.66% of the' paid up share capital of the first respondent company.
(2.) It is the case of the petitioner that he and his wife holds 5,00,000 shares out of 15,4,100 shares of the first respondent company. Petitioner also pleaded that his wife gave power of attorney in favour of the petitioner for filing this petition. Petitioner also submitted special power of attorney dated 21.09.2015 executed by his wife in favour of petitioner giving authority to file this petition against the first respondent company. It is not disputed by the respondents that the petitioner and his wife together hold 36.22% of the equity shares of the first respondent company. However, it is pleaded by the respondents that it is not described by the petitioner that himself and his wife are together filing this petition or he filed this petition as general power of attorney holder of his wife. No doubt it is not specifically mentioned in the cause title or in the body of the petition that this petition is filed by petitioner on behalf of his wife but it is stated in page 7 of the petition that himself and his wife together hold 32.66% of equity shares of the first respondent company and his wife has executed special power of attorney in his favour. Therefore, it is implied that this petition is filed by the petitioner on his behalf and on behalf of his wife as power of attorney holder. Therefore, contention of the learned PCS for the respondents that the petitioner is not eligible to file this application does not stand to reason. Hence, petitioner is eligible to file this petition. Hence petitioner is eligible to file this petition.
(3.) Admittedly the first respondent company was incorporated on 05.02.2011. Admittedly construction of process house of the first respondent company located in the land owned by Nagina Processors Pvt. Ltd. was started in the first quarter of 2010 and after installing machines production was started in October, 2010. Admittedly, petitioner worked as a full time printing master in the first respondent company since 15.08.2010 on monthly salary.;