Mohd. Sharief Tariq, Member - (1.) Under consideration is the company petition that came to be filed before the erstwhile Company Law Board, numbered as C.P. No. 71 of 2013 which stood transferred to the National Company Law Tribunal and renumbered as T.C.P. No. 126 of 2016. There are eight petitioners and thirteen respondents. At the beginning, the respondents caused appearance and counter reply was filed on behalf of respondents Nos. 1 and 2. However, thereafter, the respondents chose not to appear and vide order dated November 7, 2016, respondents Nos. 4, 12 and 13 were proceeded ex parte. Respondents Nos. 1, 2, 3, 5, 8, 9, 10 and 11 were also set ex parte on January 20, 2017. The petitioners claim that they altogether hold 1,013 equity shares out of 5,500 shares in the first respondent-company which constituted 18.42 per cent, of the outstanding equity share capital of the company. Therefore, they satisfied the eligibility criteria under section 399 of the Companies Act, 1956, for filing this petition.
(2.) The authorised share capital of the company is Rs. 55,00,000/- divided into 5,500 equity shares of Rs. 1,000/- each. The paid-up share capital of the company is Rs. 55,00,000/- comprising 5,500 equity shares of Rs. 1,000/- each. However, presently, the status of the company has been changed to dormant by the Registrar of Companies and all the filings purported to be made by the company have been kept under the custody of the Registrar of Companies and no certified copies of the same are being provided. It has also been mentioned that the annual returns for the financial years ending March 31, 1993 till March 31, 2001 have been filed belatedly in the year 2001.
(3.) The first petitioner claims that he was the director of the company and held the office from June 7, 1989 till August 19, 2000. Further, the first petitioner was the managing director of the first respondent-company on April 28, 1997 till he was wrongfully dismissed on August 19, 2000. Therefore, he challenges the wrongful dismissal and also challenges the filing of the annual returns for the financial years ending March 31,1993 till March 31, 2001 in the company petition on the ground that he was not served notice for holding any of the annual general meetings which was purportedly held belatedly.;