Company Petition No. 01 of 2014. Case: Harshad J. Bakshi Vs Choksi Tube Company Ltd. and Ors.. Company Law Board
| Case Number | Company Petition No. 01 of 2014 |
| Counsel | For Appellant: V.G. Venkataraman, PCS and For Respondents: Sharan Jagtiani and Kersi Dastoor, Advocates, i/b Phoenix Legal |
| Judges | Ashok Kumar Tripathi, Member (J) |
| Issue | Companies Act, 1956 - Sections 166, 167, 168, 255, 256 |
| Judgement Date | January 22, 2015 |
| Court | Company Law Board |
Judgment:
Ashok Kumar Tripathi, Member (J), (Mumbai Bench)
1. The above captioned Company Petition has been filed u/s. 167 of the Companies Act, 1956 (hereinafter referred to as "the Act" in short) by the Petitioner seeking the following reliefs:--
a) To pass an order thereby declaring that the Annual General Meetings of the Respondent No. 1 shown as held for the financial years 2003-04 to 2009-10 as invalid as the said AGMs have been improperly shown to have been convened/held without authority by persons who were not directors of the Respondent No. 1 who by their own affidavits to the Hon'ble Gujarat High Court were not Directors of the Respondent No. 1 since December 2004.
b) To pass an order thereby holding the Resolutions purported to have been passed by the extra ordinary general meeting held on 20/12/2007 for appointment of and payment of remuneration to Mr. Shaunak H. Choks, (as Managing Director), Respondent No. 2 and Mr. Himanshu Harshad Choksi (as Whole-time Director), Respondent No. 3, as invalid and preventing the said persons from returning the remunerations drawn by them to the Respondent No. 1 and not to draw any further remuneration from the Respondent No. 1 till their appointments are ratified by a duly convened general meeting of the Respondent No. 1.
c) To pass an order thereby directing the Respondent No. 1 to convene its annual general meeting for the year ended 30/06/2004 within 45 days from the date of order of this Bench.
d) Pending the holding of AGM of the Respondent No. 1, to pass an order thereby appointing an Administrator, to take charge of the affairs of the Respondent No. 1.
e) To pass an order thereby appointing a person of repute or a professional to act as the impartial chairman of the AGM of the Respondent No. 1 to be convened.
f) Pending the holding of the AGM of the Respondent No. 1, to pass an order thereby directing the other respondents not to create, alienate, sell, dispose of, transfer or in any manner handle the properties and assets of the Respondent No. 1 or to represent themselves as directors of Respondent No. 1.
g) To pass an order thereby directing the Respondent No. 1 to pay and bear the costs and expenses to be incurred for convening and holding AGM of the Respondent No. 1.
h) To pass an order thereby directing the Respondent Nos. 2 to A to extend their co-operation and provide required members details and arrange funds for expenses for convening and holding the AGM.
2. On...
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