Bikki Raveendra Babu, Member - (1.) Applicant in both these applications filed CP No. 195 of 2017 in the matter of Section 241 read with Section 246 of the Companies Act, 2013 alleging acts of oppression and mismanagement.
(2.) Original petitioner initially filed IA No. 403 of 2017 alleging inaction on the part of the respondent company and not getting its accounts audited and not holding the Annual General Meeting of the shareholders on or before 30.09.2017 as per the provisions of the Companies Act. In IA No. 403 of 2017 applicants prayed for the following reliefs: (a) To direct Registrar of Companies, Gujarat to produce applications, if any, made by the first respondent company seeking time for holding meeting beyond 30.09.2017 for the financial year 2016-17 and granting of extension, if any. fa (b) To declare appointment of M/s. Shah & Bhatt, Chartered Accountants as statutory Auditor of the first respondent company is bad in law and restrain them from auditing of accounts for the financial year 2016-17. (c) To appoint statutory Auditors of the first respondent company for the financial year 2016-17. (d) To direct respondents No. 2 to 4 to get the first respondent company audited by newly appointed statutory Auditors by prescribing time limit. (e) To direct respondent No. 2 to 4 to hold the Annual General Meeting of the members of the first respondent company for the financial year 2016-17 within the time limit as the Tribunal deem fit. (f) To direct the respondents to include following business to be transacted at the Annual General Meeting to be held for the financial year 2016-17. (i) Consideration of audited financial statements and reports of the Board of Directors and Auditors for the financial year 2016-17; (ii) Declaration of dividend; (iii) Appointment of directors in place of those retiring; (iv) Appointment of statutory Auditors for financial year 2017-18 and determination of their remuneration.
(3.) Thereafter, original petitioners filed IA 415 of 2017 stating that after the Extra Ordinary General Meeting held on 07.12.2017 and after affirmation of affidavit supporting IA No. 403 of 2017, on 09.12.2017, the applicant received a notice dated 07.12.2017 issued to shareholders of the first respondent company for holding Annual General Meeting for financial year 2016-17 on 30.12.2017 at 11.30 a.m. at the Registered Office of the first respondent company along with independent Auditor's report dated 07.12.2017 and audited financial statements dated 07.12.2017.;