K. Anantha Padmanabha Swamy, Member - (1.) The matter under consideration is Company Petition filed by Madhu Dadha & 2 Others (hereinafter collectively called as 'Petitioners') under sections 237, 397, 398, 402 & 403 of the companies Act, 1956 alleging various acts of oppression and mismanagement in the affairs of M/s. Dadha Securilockers Private Limited (hereinafter called as 'Respondent Company'). The said petition was originally filed before the Company Law Board, Southern Region which stood transferred to this tribunal pursuant to the Companies (Transfer of Pending Proceedings) Rules, 2016 and renumbered as TCP/150/2016.
(2.) Before proceeding with the matter, it is necessary to mention herein that none of the Respondents have appeared before this Bench, therefore all the respondents were set ex-parte vide its order dated 03.01.2017.
(3.) The petitioners while alleging several acts of oppression and mismanagement have prayed for following reliefs against the Respondents: (a) To appoint an expert to investigate in the affairs of the first respondent company and to make a report as to the accounts as well as the dealings of the company conducted by the second to fifth respondents and to surcharge the second to fifth respondents for negligence, manipulations and the loss caused to the company account of the said dealings; (b) To pass orders for conduct of Audit of Accounts of the Company for the years ending 31.03.2006, 31.03.2007, 31.03.2008, 31.03.2009, 31.03.2010, 31.03.2011, 31.03.2012, 31.03.2013 and 31.03.2014 by independent auditors and convene Annual General Meetings for the said years by appointing an Ad-hoc Chairman for the said meetings; (c) To remove the fourth respondent as Managing Director and Director of the Respondent-Company;