CORPORATE MOOT 2013-2014
Before
THE HONOURABLE COMPANY LAW TRIBUNAL, AHMEDABAD
PETITION NO. _____/2013 Pulkit
!i"##########....................................
########... P$titi%"$& v.
A'(i'( )u*!& +Di&$t%&, P.A.-. P(!&*! P&i!t$ Lt ............. #......R$'%"$"t
MEMORIAL ON THE BEHAL O PETITIONER
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CORPORATE MOOT 2013-2014
TABLE OF CONTENTS
Index of Abbreviations..........................................................................................................................3 Index of Authorities............................................................................................................................45 Statement of Jurisdiction........................................................................................................................6 Statement of Facts................................................................................................................................. 7 Questions resented.............................................................................................................................. ! Summar" of #eadin$s..................................................................................................................... %&5 ra"er.................................................................................................................................................. &6
MEMORIAL ON THE BEHAL O PETITIONER
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INDEX OF ABBREVIATIONS AI'
:
A## India 'e(orter
Anr.
:
Another
)om.
:
)omba"
*+)
,
*om(an" +a )oard
*+
:
*om(an" +a ribuna#
/+'
,
/u0arat +a 'e(orter
12A
,
1emorandum of Association
1o
,
1emorandum of nderstandin$
2rs.
:
2thers
S)I
,
State )an of India
S*
:
Su(reme *ourt
S**
:
Su(reme *ourt *ases
Sd-
:
Si$ned
.S.
:
nited States
v. vs
:
ersus
MEMORIAL ON THE BEHAL O PETITIONER
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INDEX OF AUTHORITIS
1 -TATUTEhe *om(anies Act &%56
2 CA-E•
8ouse of +ords in Scottish *o-o(. 9ho#esa#e Societ" +td. v. 1e"er [1959] AC 324 [HL]
•
In re 8armer +td [1958] 3 All E.R. 689
•
:#der vs :#der (1952) S.C. 49
•
Shri )a#a0i exti#e 1i##s vt. +td. vs Asho ;av#e (1989) 66 Comp Cas 654 (Kar) (DB)
•
)anford Investment +td. vs 1a$adh S(un i(e +td. (1998) 93 Com as!s 685
•
'adhe" Sh"am /u(ta vs ;ama# 2i# and A##ied Industries +td " (2##1) Comp Cas! 33$ (D!l) (DB)
•
'e A *om(an" (198$) BCLC 593 (C%.)
•
'e )S) 8o#din$s +td. (1993) BCLC 246 (C%.)
•
S.1. 'amarishna 'ao vs )an$#ore 'ace *#ub +td. (19$#) 4# Com Cas!s 6$4 (&'s)
•
Ja$0it Sin$h *ha#a vs irath 'am Ahu0a +td. (2##4) 119 Comp. Cas. 385 (CLB)
•
+td vs 8o#din$s +td AR 1981 SC 1298
•
'e :#$indata +td. =(1991) BCLC 959 (C%.)
MEMORIAL ON THE BEHAL O PETITIONER
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CORPORATE MOOT 2013-2014
•
'e +ondon Schoo# of :#ectronics +td (1985) BCLC 2$3 (C%.)
•
S.1. /an(atram v. Sa"a0i Jubi#ee *otton ? Jute 1i##s *o (1964) *LR 8#4
•
•
•
I; Securities vt +td vs nited 9estern )an . +td (2##1) 4 Comp L- 81
•
Sorab ins0ai astur vs ..'. *assad (1963) 33 Com as!s 3#6
•
*o#. ;u#dee( Sin$h hi##om vs ara$aon ti#it" Financers '. +td. (1988) 64 Comp. Cas. 19 (,H)
3 BOO)
A 'amai"a B*/0! o %! Compa's A" ,ar+3C &7th :dition DE&E +exis
MEMORIAL ON THE BEHAL O PETITIONER
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STATEMENT OF JURISDICTION
8: *2
8A: :<2'S: 8:I'
+:AI
%$MEMORIAL ON THE BEHAL O PETITIONER
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STATEMENT OF FACTS •
.A.S. as incor(orated ith &EEEE euit" shares of 's. &E- on 6 th A(ri# DE&3. he three directors ere first subscribers to the memorandum and artic#es of association and ere a#so the first directors of the com(an" as (er the artic#es of the association. 1r. u#it Jain as the 1 of the com(an" and Ashish ;umar as a non-executive chairman (residin$ over meetin$s.
•
BSharad harmaceutica#s +tdC (roducin$ dru$s and (harmaceutica#s as under mort$a$e of ;a#u(ur ban +td. 1r u#it Jain ne$otiated ith the directors of S+ and terms of taeover ere decided of 's. D *rore to be (aid b" com(an" hich ere reduced into ritin$ of 1o on D3 rd a(ri#DE&3 and si$ned b" the directors of both the com(anies.
•
o ensure smooth im(#ementation of the 1o ith S+ 1r. u#it Jain ne$otiated ith )an for one time sett#ement of the dues of S+ to the said ban of (a"in$ a #um( sum amount of 's. &.5& *rore and ensured a 1o beteen the com(an" and the ban dated &6th Ju#" DE&3. And ban issued no ob0ection certificate to S+ for sa#e of its factor" to the com(an".
•
In (ursuant to the to the 1o on &6 th 0u#"DE&3 1r (u#it 0ain (aid amount of 's &EEEEEE b" cheue from his (ersona# funds to the com(an" for onard (a"ment to S+. Furthur mr. u#it 0ain (aid cash of 's 5EEEEE to ban direct#" from (ersona# funds on beha#f of com(an". In tota# ban received 's. 4EEEEEE from on account of its 1o ith S+. Since the tota# (a"ment cannot be met throu$h (ersona# funds u#it Jain a((roached S)I for a #oan for the taeover and runnin$ of the factor" of S+ as (er 1o dated D3 rd A(ri# DE&3.
•
1r. Ashish ;umar $ot different desi$ns on com(an"Gs (ro0ect and he $ot a desi$n on the rea# estate of the factor" and decided to scutt#e the (ro(osed taeover in co##usion
MEMORIAL ON THE BEHAL O PETITIONER
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CORPORATE MOOT 2013-2014
ith certain directors and the 1ana$er. And on % th ecember DE&3 1r. Ashsish umar and the directors of the S+ executed a deed for cance##ation of 1o dated D3rd A(ri# DE&3 ith Sharad harmaceutica#s +td ithout informin$ u#it Jain and in connivance ith the directors of S+ and the mana$er of the )an. )ecause of this cance##ation of 1o a## efforts and mone" invested b" 1r. u#it Jain to start the (ro0ect of the com(an" b" tain$ over the factor" of Sharad reached a dead end. •
A$$rieved b" this 1r u#it Jain fi#ed a (etition.
.
&UESTIONS PRESENTED
1%
WHETHER THE ACT OF OPPRESSION AND MISMANA'EMENT HAS BEEN COMMITTED(
2%
WHETHER THE ACTIONS OF THE TWO DIRECTORS PREJUDICED TO THE PETITONER(
MEMORIAL ON THE BEHAL O PETITIONER
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PLEADIN'S ADVANCED 1% WHETHER THE ACT OF OPPRESSION AND MISMANA'EMENT HAS BEEN COMMITTED(
It is humb#" submitted before this honourab#e tribuna# that the act of o((ression and mismana$ement under Section 3%7 and 3%! has been committed b" the directors. he conce(t of Ho((ressionH Section 3%7 of our *om(anies Act fo##os c#ose#" the #an$ua$e of section D&E of the :n$#ish *om(anies Act of &%4!. Since the decisions on section D&E have been fo##oed b" the *ourt the :n$#ish decisions ma" be considered first. he #eadin$ case on Ho((ressionH under section D&E is the decision of the Ho/s! o Lors 0 So0s% Co+op. %ol!sal! So0!' L. 7. &!'!r 1. In 8armerHsD case it as he#d that the ord H o((ressive H meant burdensome harsh and ron$fu#. 2((ression )*+ ,*. /.., )5 and need not necessari#" be for obtainin$ (ecuniar" benefit. It ma" be due to a desire to obtain (oer and contro# or be mere#" vindictive.C In this case 1r Ashish had cance##ed the 1o dated D3 rd A(ri# DE&3 because of his (ersona# $rud$es ith certain directors of S+ and the )an 1ana$er. Amon$ the im(ortant considerations hich have to be e(t in vie in determinin$ the sco(e of Section D&E the fo##oin$ matters ere stressed in :#derHs 3 case as summarised at (a$e 3%4 in 1e"erHs case, =&> he o((ression of hich a (etitioner com(#ains must re#ate to the manner in hich the affairs of the com(an" concerned are bein$ conducted and the conduct com(#ained of must be such as to o((ress a minorit" of the members =inc#udin$ the (etitioners> ua shareho#ders.
1
K&%5%L A* 3D4 K8+L K&%5!L 3 A## :.'. 6!% 3 =&%5D> S.*. 4% 2
MEMORIAL ON THE BEHAL O PETITIONER
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CORPORATE MOOT 2013-2014
=D> It fo##os that the o((ression com(#ained of must be shon to be brou$ht about b" a ma0orit" of members exercisin$ as shareho#ders a (redominant votin$ (oer in the conduct of the com(an"Hs affairs. =3> A#thou$h the facts re#ied on b" the (etitioner ma" a((ear to furnish $rounds for the main$ of a indin$ u( order under the 0ust and euitab#eH ru#es those fact must be re#evant to disc#ose a#so that the main$ of a indin$ u( order ou#d unfair#" (re0udice the minorit" members ua shareho#ders. =4> A#thou$h the ord Ho((ressiveH is not defined it is (ossib#e b" a" of i##ustration to fi$ure a situation in hich ma0orit" shareho#ders b" an abuse of their (redominant votin$ (oer are H treatin$ the com(an" and its affairs as if the" ere their on (ro(ert" H to the (re0udice of the minorit" shareho#ders--and in hich 0ust and euitab#e $rounds ou#d exist for the main$ of a indin$ u( order . . . but in hich the H a#ternative remed" H (rovided b" Section D&E b" a" of an a((ro(riate order mi$ht e## be o(en to the minorit" shareho#ders ith a vie to brin$in$ to an end the o((ressive conduct of the ma0orit". =5> he (oer conferred on the court to $rant a remed" in an a((ro(riate case a((ears to envisa$e a reasonab#" ide discretion vested in the court in re#ation to the order sou$ht b" a com(#ainer as the a((ro(riate euitab#e a#ternative to a indin$-u( order. FACTORS IN CONSIDERIN' MEMBERSHIP-
9here the membershi( of the (etitioner as dis(uted because his name as not borne out b" the com(an"Gs re$ister of members the *om(an" +a )oard su$$ested the fo##oin$ criteria for seein$ hether membershi( shou#d be reco$nised for a (ur(ose of a (etition, &> 9hether the (etitioner is in (ossession of re#evant share certificates D> 9hether there are inde(endent records to estab#ish membershi( and
3> 9hether the com(an" has been treatin$ the (etitioner as a member 4 /oin$ b" these considerations 1r u#it Jain is a member of the com(an" and his (etition under Sec 3%7 and 3%! had a lo/s sa0. 1r u#it Jain is a share ho#der b" the virtue of Sec D=D7>.
4
)anford Investment +td. vs 1a$adh S(un i(e +td. =&%%!> %3 *om cases 6!5
MEMORIAL ON THE BEHAL O PETITIONER
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In the case of S%r0 Bala0 !:0l! &0lls ,7. L. 7;s As%o< Ka7l! 5*ertain shareho#ders fi#ed a (etition under Sec 3%7 and 3%! of the *om(anies Act &%56 a$ainst the com(an". he com(an" too the (#ea that the (etition as not maintainab#e as the (etitioners did not a((#" for the shares in ritin$ and such the" ere not the members. It as he#d that the com(an" had treated the (etitioners as shareho#ders and a##otted shares in their favour. In the 'e$ister of the name of the (etitioners a((eared. It as he#d that the (etition as maintainab#e as for the (ur(oses of Sec 3%7 3%! and 3%% as the definition of a 1ember as contained in Sec D=D7> is a((#icab#e. he (ersons shon on the 'e$ister of 1embers and Annua# 'eturns as shareho#ders or members are (rima facie entit#ed to fi#e (etition for re#ief under Sec 3%7 and 3%! read ith Sec 3%% of the *om(anies Act &%56. 6 It as a#so he#d that the circumstances must be such as to arrant the inference that there has been at #east an unfair abuse of (oers and an im(airment of confidence in the (robit" ith hich the com(an"Hs affairs are bein$ conducted as distin$uished from mere resentment on the (art of a minorit" at bein$ outvoted on some issue of domestic (o#ic". he (hrase o((ressive to some (art of the members su$$ests that the conduct com(#ained of shou#d at the #oest invo#ve a visib#e de(arture from the standards of fair dea#in$ and a vio#ation of the conditions of fair (#a" on hich ever" share ho#der ho entrusts his mone" to a com(an" is entit#ed to re#"C In the $iven case there has been o((ression on 1r. u#it Jain b" the ma0orit". he actions of the ma0orit" have #ed to an unfair abuse of (oers on the minorit" b" tain$ decision ithout even informin$ the minorit". he actions of the to directors of the com(an" and directors of S+ and the ban mana$er sho that the" have de(arted from the fair dea#in$. And a#so the" have not consu#ted the (etitioner hi#e cance##in$ the 1o and he has a#so invested his (ersona# mone" for that taeover to ha((en. o maintain a (etition for 2((ression and 1ismana$ement (ersona# (re0udice to the (etitioner is not essentia#. It the affairs of the com(an" are conducted in a manner o((ressive to an" member or the (ub#ic interest the a((#ication is maintainab#e.7
5
=&%!%> 66 *om( *as 654 =;ar> =)> 'adhe" Sh"am /u(ta vs ;ama# 2i# and A##ied Industries +td =DEE&> *om( *ase 337 =e#> =)> 7 'e A *om(an" =&%!7> )*+* 5%3 =*h.> 'e )S) 8o#din$s +td. =&%%3> )*+* D46 =*h.> 6
MEMORIAL ON THE BEHAL O PETITIONER
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1r u#it had done this dea# to benefit the com(an" as a ho#e but acts of 1r Ashish did not #ed to the taeover of S+ and instead it #ed to the #oss of 's &5 #ahs to 1r u#it due to the cance##ation of the 1o to tae over the S+. 8ence it covers that o((ression has been done b" the mana$ement on the minorit" under Section 3%7 of the *om(anies Act &%56.
MISMANA'EMENT
If the affair of the com(an" are bein$ conducted in a manner (re0udicia# to the interest of the com(an" or (ub#ic interest or that b" reason of an" chan$e in the mana$ement of contro# of the com(an" it is #ie#" that the affairs of the com(an" i## be conducted in that manner it is ca##ed mismana$ement. It usua##" occurs hen the ma0orit" shareho#ders ho contro# the o(eration cannot run (ro(er#" in an effective a" the affairs of the com(an" and is not ab#e to (rotect the ri$hts of a shareho#der and maintain a sound viab#e environment. io#ation of the conditions of the com(an"Gs memorandum b" those ho are in char$e of com(an"Gs mana$ement ma" amount to mismana$ement. ! In the (resent case 1r. Ashish ;umar as in char$e of the com(an". 8e as res(onsib#e for mana$in$ the affairs of the com(an" and he a#so (resided over the meetin$s. Since he as in char$e of the com(an" he too a ver" ma0or decision affectin$ the (ersona# funds of one of the shareho#der and cance##ed the 1o. 8e did not even inform the shareho#ders about the meetin$ and the (etitioner $ot to no about the meetin$ informa##". As he as in char$e of the com(an" the (oers ere in his hand to tae ma0or decisions affectin$ the mana$ement of the com(an". :ven thou$h the (etitioner did not (a" the subscri(tion (rice for the shares he cannot be exc#uded from mana$ement.
8
S.1. 'amarishna 'ao vs )an$#ore 'ace *#ub +td. =&%7E> 4E *om *ases 674 =1"s>
MEMORIAL ON THE BEHAL O PETITIONER
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In a c#ose#" he#d com(an" formed u(on the understandin$ that there sha## be eua# (artici(ation in mana$ement and in fact mana$ement as shared b" a## $rou(s for a #on$ time. here arose a #e$itimate ex(ectation in shareho#din$ $rou( for inc#usion in mana$ement. For such a case exc#usion from mana$ement ou#d amount to o((ression. In such a case the *ourt =*+)ribuna# =<*+>> can $rant re#ief in a((ro(riate manner. % 9hen 1r Ashish ;unar cance##ed the 1o beteen the com(an" and S+ he did not inform 1r u#it about the same. 1r u#it had made enou$h efforts so that the dea# cou#d tae (+ace hich as for the benefit of the com(an". 1r u#it had a#so invested &5 +ac 's from his (ersona# accounts hich a#so reached a dead end. his conc#udes the there as a#so mismana$ement on the (art of the com(an" as (er Section 3%7 of the *om(anies Act &%56. 2% WHETHER THE ACTIONS OF THE DIRECTORS WERE PREJUDICED TO THE INTEREST OF THE PETITONER(
In =!!l! /sr0!s (0a) L 7;s =!!l! /sr0!s =!>!' (0a) Hol0?s L 1# he S* has observed that Bhe true (osition is that an iso#ated act hich is contrar" to #a ma" not necessari#" and b" itse#f su((ort the inference that the #a has vio#ated ith a ma#a fide intention or that such vio#ation as burdensome harsh and ron$fu#. )ut a series of i##e$a# acts fo##oin$ u(on one another can in the context #ead 0ustifiab#" to the conc#usion that the" are a (art of the same transaction of hich the ob0ection is to cause or commit the o((ression of (ersons a$ainst hom these acts are directed.C 1r. Ashish ;umar had done a series of acts hich #ed to o((ression and mismana$ement. 8e did not serve a (ro(er notice to the members of the com(an" hich as c#ear#" vio#ative of the (rovisions of *om(anies Act. Accordin$ to *om(anies Act &%56 ever" member shou#d $et a notice hen a decision is to be taen re$ardin$ tae over ama#$amation and other mer$ers and acuisitions. 8ere 1r Ashish cance##ed the si$ned 1o beteen the com(an" and S+ and 1r u#it as unaare about an" such activit" $oin$ in the com(an". 2n the other hand 1r. u#it had com(#eted the ban forma#ities b" (a"in$ the ban 's 5 +ac cash and 's &E +ac to S+ from his (ersona# funds.
9
Ja$0it Sin$h *ha#a vs irath 'am Ahu0a +td. =DEE4> &&% *om(. *as. 3!5 =*+)> AI' &%!& S* &D%!
10
MEMORIAL ON THE BEHAL O PETITIONER
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1r Ashish ;umar had si$ned the 1o dated D3 rd A(ri# DE&3 and he as c#ear#" aare about the tain$ over of S+. he term #oan (rovided b" S)I as on the basis of 1o hich as si$ned beteen the com(an" and the S+ vio#ation of such a c#ause as vio#ation of 1o. 1o is made in com(#iance of 12A of the com(an". Such actions of 1r Ashish ;umar over ride the 12A. For ouster from the 1ana$ement the (etitioner has to sho that he had a #e$itimate ex(ectation to be consu#ted over the affairs of the com(an" and that his exc#usion from the mana$ement ou#d de(ress the va#ue of its investments. && 1r u#it has invested &5 +ac 's from his (ersona# accounts so that the dea# ith S+ cou#d tae (#ace. 8e a#a"s had a bona fide intension henever it came to the matters of com(an". 1r u#it as unaare about the acts of 1r Ashish and his exc#usion from the decision of cance##ation of 1o as vio#ative. 8e had a#a"s (#a"ed a ma0or ro#e in com(an"Gs functionin$ and thus his o(inion as essentia# for tain$ such a decision. 8e had a#so invested &5 +ac 's from his (ersona# funds and therefore he a#a"s had a bona fide intention ith res(ect to affairs of the com(an". he uestion sometimes arises as to hether an action in contravention of #a is (er se o((ressive. It is said as as done b" one of us <.8. )ha$ati J. in a decision of the /u0arat 8i$h *ourt in S.&. *aparam 7. Sa'a0 -/@0l!! Coo -/! &0lls Co.&D that a reso#ution (assed b" the directors ma" be (erfect#" #e$a# and "et o((ressive and converse#" a reso#ution hich is in contravention of the #a ma" be
in
the
interests
of
the
shareho#ders and the com(an".
'e :#$indata +td. = =&%%&> )*+* %5% =*h.> 'e +ondon Schoo# of :#ectronics +td =&%!5> )*+* D73 =*h.> 12 =&%64> 2 /+' !E4 13 Su(ra 3
MEMORIAL ON THE BEHAL O PETITIONER
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shareho#ders ou#d not be enou$h un#ess the +ac of confidence s(rin$s from o((ression of a minorit" b" a ma0orit" in the
mana$ement of the com(an"Hs affairs and such
o((ression must invo#ve at #east an e#ement of +ac of (robit" of fair dea#in$ to a member in the matter of his (ro(rietar" ri$hts as a shareho#der. It is in the #i$ht of these (rinci(#es that e have to consider the facts.....ith reference to section 3%7. In =aalala a7!r a ao%!r 7. Bom@a' L0! Ass/r! Co. L 14. as J. in his se(arate but concurrin$ 0ud$ment deduced the fo##oin$ (rinci(#e on the basis of the :n$#ish decisions, It is e## estab#ished that directors of a com(an" are in a fiduciar" (osition 70s++70s the com(an" and must exercise their (oer for the benefit of the com(an". If the (oer to issue further shares is exercised b" the directors not for the benefit of the com(an" but sim(#" and so#e#" for their (ersona# a$$randisement and to the detriment of the com(an" the *ourt i## interfere and (revent the directors from doin$ so. he ver" basis of the *ourtHs interference in such a case is the existence of the re#ationshi( of a trustee and of !s/0 /! trust as beteen the directors and the com(an". 9here there is no (roof of des(atch of notice and there as (roof that items other than those mentioned in the notice ere taen u( and (assed at the meetin$ these acts ere he#d to be insufficient to 0ustif" an a((#ication for (revention of o((ression and mismana$ement. &5 9here the chairman ithdre a s(ecia# reso#ution hich as introduced at an extraordinar" $enera# meetin$ and he did so ithout tain$ members into confidence the *+) said that it as an o((ressive conduct. It denied the members to ex(ress their o(inion on a matter (ut before them.&6 A com(osite (etition under both Sec 3%7 and 3%! ma" be fi#ed (rovided the re#iefs c#aimed are not conf#ictin$.&7 1r Ashish had e(t the meetin$ for cance##ation of 1o and 1r u#it as unaare about it. 8e did not even receive an" notice re$ardin$ the same. 8e had a#a"s made such decisions hich are for the e#fare of the com(an" that is h" even hen 1r Ashish as
14
=&%5E> S*' 3%E3%4 a#a ;umar 1onda# vs *ine ? Su((#" *or(n. ? +td =DEED> 35 S*+ 6E3 =*+)-e#-)> 16 I; Securities vt +td vs nited 9estern )an . +td =DEE&> 4 *om( +J !& 17 Sorab ins0ai astur vs ..'. *assad =&%63> 33 *om cases 3E6 15
MEMORIAL ON THE BEHAL O PETITIONER
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tr"in$ to scutt#e the (ro(osed taeover he made efforts for additiona# directors so that the com(an" doesnGt #oses the o((ortunit" to $ro. RESOLUTION MAY BE STRUC6 DOWN IF OPPRSSIVE-
In exercisin$ 0urisdiction under Sec 3%7 and 3%! the *ourt =*+)ribuna#> ma" strie don a 'eso#ution of the )oard of irectors thou$h #e$a# if it is o((ressive to the minorit" shareho#ders and (re0udicia# to the interests of the com(an". he notice convenin$ the )oard 1eetin$ is reuired to be sent to a## the irectors. ent"-one da"s c#ear notice has to be $iven to convene a /enera# 1eetin$. A notice convenin$ a meetin$ in vio#ation of the mandator" (rovisions of Sec &7& of the *om(anies Act &%56 curtai#in$ the (eriod of notice ou#d be inva#id. &! he reso#ution (asses b" 1r Ashish ;umar is o((ressive in nature as it is (re0udicia# to the interests of the com(an". 1r u#it Jain anted the benefit of the com(an" that is h" he a#so made efforts for additiona# directors to fu#fi# the reuirements of S)I. PRAYER
Whereof in the light of the issues raised, arguments advanced and authorities cited above, it is humbly prayed that this Tribunal may graciously be pleased:
To declare that the resolutions passed by the board on December 9, 2013 were null and void and were passed in the abuse of power and in oppression of the minority shareholders and the said resolutions be set aside.
To give directions to the an! to return the money paid by the petitioner.
To pass orders for investigation into the conduct of the affairs of the company and suitable directions be made with a view to regulating affairs of the company in future.
18
*o#. ;u#dee( Sin$h hi##om vs ara$aon ti#it" Financers '. +td. =&%!!> 64 *om(. *as. &% =?8>
MEMORIAL ON THE BEHAL O PETITIONER
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CORPORATE MOOT 2013-2014
To pass any such further order /(s) as it may deem fit and proper in the facts and circumstances of the case and in the interest of "ustice. #$D %&' T()* #+T &% )$D$-** &% &/' &'D*()*, THE PETITIONER *(# #* )$ D/T&/$D --' '#. All of which is respectfully submitted
Sd /- ______________________ Counsels for Petitioner Place: Company Law Triunal! "#me$aa
%$MEMORIAL ON THE BEHAL O PETITIONER
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