Court : Company Law Board CLB Chennai
..... that the company application is filed only to circumvent the order passed by the city civil court, bangalore in the o.s. no. ..... two additional directors, who were the only members of the board at the time of holding the said agm could hold office only upto the date of the said agm in terms of section 260 of the act and that the company as on date has no directors to look after its interest or carry on the business and have effective control over the affairs of the company. ..... stradmann ceased to be directors of the company, they cannot continue as directors of the company by virtue of provisions of section 260 of the companies act, according to which the additional directors shall hold office only up to the date of the next annual general meeting of ..... the present company application is filed under section 186(1) of the companies act, 1956 (the act) before this bench seeking various reliefs as prayed in para 8 ..... of the respondents that no notice under section 169 of the act was issued by the applicant is denied and ..... in these circumstances, the applicant invoking the provisions of section 186 of the act for passing appropriate orders/directions in the interest of justice and prayed that the company law board may appoint an independent chairman and also give directions in relation to calling/holding and ..... that the company is not having board of directors, the contention of the respondents that the applicant could have invoked the provisions of section 169 of the act does not have any merit. .....
Tag this Judgment!Court : Company Law Board CLB Chennai
..... by virtue of the purported illegal attempts of the second respondent to convene a board meeting on 11-1-1994, had approached the city civil court at madras for an order of permanent injunction in o.s. no. ..... 5458 of 2000 before the city civil court, madras) the grievance was that the second respondent herein failed to account for kuwait operations and thereby challenged the accounts maintained ..... before the city civil court madras and madras high court (c.s. no ..... the city civil court of madras has not granted any injunction and consequently the shareholders present at the meeting considered the accounts and the company has filed its balance sheets duly adopted by its shareholders as ..... defending the suit filed by the petitioners for rendition of the accounts of the company, explicitly affirmed inter alia that i submit that the said suit is pending on the file of city civil court, chennai. ..... when material changes are brought about in the management to the detriment of the main promoter, they are squarely covered under clause (f) of sub-section (1) of section 397; (b) it gives a right to members of a company who comply with conditions of section 399 to apply to the court for relief under section 402 of the act or such other reliefs as may be suitable in the circumstances of the case, if the affairs of a company are being conducted in a manner oppressive to any member or members ..... a number of contracts from time to time with tcil in madras and bangalore, mtnl in delhi, kseb in kerala etc. .....
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