Bikki Raveendra Babu, Member - (1.) Petitioners 1 to 9 who are shareholders of the 1st Respondent Company filed this petition alleging acts of oppression and mismanagement under section 397 and 398 read with sections 235 and 235(b) 402 and 403 of the Companies Act, 1956.
(2.) 1St respondent is a listed company shares of which are registered on Mumbai & Vadodara Stock Exchanges. Authorised share capital of the 1st respondent company is Rs. 25,00,00,000/- comprising of 2,50,00,000 equity shares of Rs. 10/- each. Paid-up share capital of the 1st Respondent Company is Rs. 17,12,89,920/- comprising of 1,71,28,992 equity shares of Rs. 10/- each.
(3.) Petitioners No. 1, 2, 4 and 8 gave special power of attorney to petitioners No. 3 and 9 to file this petition. Shareholding of petitioners No. 1 to 9 in the 1st Respondent Company is Rs. 32,71,101/- i.e. 19.10% of the paid up share capital of the 1st Respondent Company as on 03.12.2015 which is the cut-off date fixed in the 71st Annual General Meeting held on 10.12.2015.;