Bhaskara Pantula Mohan, Member - (1.) This is an Application under Rule 32 read with Rule 11 of the National Company Law Tribunal Rules 2016 on maintainability of Company Petition No. 19/2015 filed by the Respondents in the main Company Petition before the erstwhile Company Law Board and now transferred and pending before this Hon'ble Tribunal.
(2.) The present application has been filed by the Respondent No. 4 in the main Company Petition in as much as he claims that he is a Director of the R1 Company and filed this Company Application challenging the maintainability of the very Company Petition. It is stated, the main Company Petition has been filed by the Petitioner No. 1 who is the first Promoter of the R1 Company, the Petitioner No. 2 the Promoter and the first Director of the R1 Company. Petitioner No. 3 is the Promoter and first Director of the R1 Company and Petitioner No. 4 who is the subscriber to the Memorandum of Association of R1 Company holding 100 equity shares of Rs. 10 each which constitutes 14.29% of the issued, subscribed and paid up capital of the Company. It is stated in the main Company Petition that the Petitioners put together hold 400 equity shares of Rs. 10/- each i.e. 57.14% of the total issued, subscribed and paid up capital of the Company.
(3.) It is stated, as regards the particulars of the Respondents in the main Company Petition, it is stated that the R1 is the Company incorporated with an object to carry on the business of manufacturing of all kinds of packaging products, duplex boards, triplex boards, heavy carved boards, base boards, card boards, etc. R2 presently appears as Director of the Company as per the list of Signatories on the MCA portal and allegedly holds 25,000 equity shares of the Company as per the purported allotment of shares dated 20.11.1995 and 27.01.2013. R3 presently appears as Director of the Company as per the list of signatory on the MCA portal and allegedly holds 25,000 equity shares of the Company as per the alleged allotment dated 20.11.2995 and 27.01.2013.;