Court : Company Law Board CLB Chennai
..... at the hands of the respondents 2 to 5, have invoked the jurisdiction of the company law board under sections 397, 398 and 402 of the companies act, 1956 (the act), claiming the following reliefs: (a) to pass appropriate orders for the management, regulation and conduct of the affairs of the company; (b) to supersede ..... company, while acquiring the properties. the company never undertook any business in kuwait, since it is not legally qualified to take any activities. the second respondent acted as a consultant, getting consultancy charges, which were remitted to the company periodically, as recorded in the minutes of the meetings, and audited accounts in the year ..... administrator to manage, regulate and conduct the affairs of the company. (c) to surcharge the respondents 2 to 5 in accordance with schedule xi of the act on account of misappropriation and misapplication of the companys funds; and (d) to restore in favour of the company the immovable properties located at gummidipundi ( .....
Tag this Judgment!