M.M. Kumar, President - (1.) There is a company known as Abhi Ashmi International Pvt. Ltd. As its name suggests the company is comprised of two members with equal shareholding and both of them are its directors with no one else. Their names are Mr. Abhijat Paliwal and Ms Asmita Dwivedi Paliwal. They are husband and wife. The company which has started out of an emotional bond of relationship is now afflicted with myriad conflicts and have driven both the members/ directors to initiate litigation before this Tribunal besides their matrimonial dispute pending elsewhere which show that their marriage is also on the rocks.
(2.) The first petition being C.P. No. 119 of 2016 has been filed by Ms Asmita Dwivedi Paliwal-the wife by invoking provisions of section 241 read with section 242 of the Companies Act, 2013. The prayer made by her in the petition are that a declaration be issued to the effect that Respondent No.2 her husband-Mr. Abhijat Paliwal has been conducting the affairs of Abhi Ashmi International Pvt. Ltd in such a manner which has caused prejudice to the interest of the company as well as those of the petitioner-wife as a shareholder and director. A further declaration has been sought that the acts of her husband are violative of fiduciary duties imposed by law on him as director when he sought to oust the petitioner-wife from the management and attempted to wrest the control of the company. A restrain order has also been sought against the husband-respondent No.2 from conducting the affairs of the company in a manner prejudicial to its interest and the legitimate expectations of the petitioner-wife to participate in the management. As an interim relief it has been prayed that direction be issued for release of her monthly salary as a director in order to enable her to perform her duties for the benefit of the company. A further prayer has also been made for issuance of direction to Respondent No. 1-company to provide her all financial and other documents relating to management and affairs of the company as and when sought. An order of status quo has been sought in respect of Board of Directors and shareholding of the company. Status quo has also been sought with regard to the fixed assets and properties in possession of the company along with others.
(3.) The second petition which is alleged to be a counterblast of the first one has been filed by Mr. Abhijat Paliwal - husband in which Ms Asmita Dwivedi Paliwal-the wife has been joined as Respondent No.2. In the second petition the provisions of section 271(c) have been invoked and it has been prayed that the Respondent No. 1 -company may be wound up in accordance with the aforesaid provisions.;