Rajeswara Rao Vittanala, Member - (1.) The Company Petition bearing No. 06 of 2016 was filed before the then Hon'ble Company Law Board, Chennai (CLB) by Dr. T. Kiran Kumar on 07.01.2016 under section 58, 59 of the Companies Act, 2013 read with Sections 397, 398, 402 read with Schedule XI of the Companies Act, 1956.
(2.) The Company Petition was taken up by the CLB from time to time and adjourned the matter on several occasions. Subsequently, the case was transferred to National Company Law Tribunal, Hyderabad Bench in the month of July, 2016, since the case relates to the States of Andhra Pradesh and Telangana. Accordingly, the case was taken on the records of NCLT, Hyderabad Bench to decide the case.
(3.) Heard Sri R.V. Reddy, Practicing Company Secretary for the Petitioner along with Dr. T. Kiran Kumar, Petitioner (party in person) and Sri Y. Suryanarayana, learned counsel for R2 to R9 along with Dr. A.M. Reddy, Respondent No. 2 (party in person) are also present in the Court. The Company Petition was filed u/s. 58, 59 of the Companies Act, 2013 read with Sections 397, 398, 402 read with Schedule XI of the Companies Act, 1956, by Inter alia seeking following directions: 1) to declare the Form DIR-12 filed by the 2nd respondent was fabricated and filed with 14th respondent and declare it as illegal and null and void; to declare that the PAS-3 filed along with the attachments are fabricated and filed by the 2nd respondent with the 14th respondent as illegal and null and void; 3) to declare that there was no shareholders meeting held on 30.09.2015 and consequently hold that the extract of the minutes attached with the PAS-3 is illegal and null and void; 4) to hold the respondents 2 to 13 are responsible for all the acts complained in this company petition and consequently hold that they are responsible for all the monetary loss to the 1st respondent company including any fee, additional fee, penalty, violation under various provisions of the Companies Act 1956 and 2013; 5) to declare the DIR-12, for appointing the 2nd respondent as Managing Director, and PAS-3 forms filed with connivance of the 2nd respondent without the knowledge and authority of the petitioner as illegal and null and void; 6) consequently declare the filing of the above forms as illegal and null and void and direct the 14th respondent to remove the same from MCA-21 portal and further permit the petitioner to file the appropriate suitable revised return; 7) to transfer the shares held by the 2nd respondent to the petitioner upon the valuation decided by this Honourable Bench; and 8) to remove the second respondent as the director of the 1st respondent and; 9) to pass such further order or other orders may be made affording necessary relief as in the premises the Hon'ble Company Law Board may deem fit and proper It is noted that there is a typographical error with respect to the Reliefs stated above and that 14th Respondent should be read as 16th Respondent.;