Disposed

Peacock Tours Private Limited & Anr. v. Farooq Ahmed Shala & Ors.

Delhi HC3 Apr 2018CO.A(SB)/13/2016

Case brief

AI extract

What is this about?

Single judge order disposing of an appeal under Section 10-F of the Companies Act, 1956 against an interim order of the Company Law Board. The court stayed the lower order and directed NCLT to expedite disposal while retaining the stay order.

What did the court decide?

NCLT directed to dispose petition as per law; interim order dated 01.04.2016 continued with liberty to modify; related applications disposed of.

Peacock Tours Private Limited & Anr. Vs Farooq Ahmed… — Company and Corporate | Delhi HC (2018)

¶1

$~CP-19

¶2

IN THE HIGH COURT OF DELHI AT NEW DELHI

¶3

- CO.A(SB) 13/2016 and CA Nos. 1233/2016, 1235/2016, 3484/2016, 4297/2016, 4310/2016, 4669/2016

¶4

PEACOCK TOURS PRIVATE LIMITED & ANR...... Appellants

¶5

Through Mr. Abhishek Kumar Rao, Mr.Shailesh Kumar, Ms. Bhavya Bharti and Ms.Sonal Nagpal, Advs.

¶6

versus

¶7

FAROOQ AHMED SHALA & ORS. ..... Respondents Through Mr.Arun Saxena and Ms.Priya Verma, Advs.

¶8

CORAM: HON'BLE MR. JUSTICE JAYANT NATH

¶9

O R D E R % 03.04.2018

¶10

This appeal is filed under Section 10-F of the Company Act, 1956 against order dated 14.03.2016 passed by the Company Law Board.

¶11

On 14.03.2016, the Company Law Board had passed an interim order holding that the shareholding pattern of petitioner No. 1 Company shall not be altered till the next date of hearing without specific permission from that court. It was also directed that the constitution of the Board of Directors shall not be changed till the next date of hearing. It was also directed that the respondent shall be entitled to inspect the records in his capacity as a shareholder and director.

¶12

When this appeal came up for hearing, this court had granted a stay of

¶13

the said impugned order.

¶14

The proceedings are still pending before the Company Law Board/NCLT.

¶15

Both the parties have expressed their consent that the hearing of the main matter before NCLT should be expedited.

¶16

Let the NCLT dispose of the petition as per law. The interim order passed by this court on 01.04.2016 shall continue to operate. However, the NCLT is at liberty if on account of subsequent facts it is necessary, to vary or modify the said order after hearing both the parties as per law.

¶17

It is agreed by learned counsel for the parties that the petitioner will provide to the respondent the photocopies of the minute books and the books of accounts for the year 2014-2015, 2015-16 and 2016-17. In view of the above, as far as the requirement for inspection of accounts is concerned that direction is taken care of.

¶18

The appeal stands dispose of.

¶19

All pending applications also stand disposed of.

¶20

JAYANT NATH, J

¶21

APRIL 03, 2018 rb

Peacock Tours Private Limited & Anr. v. Farooq Ahmed Shala & Ors.

Case brief

What is this about?

What did the court decide?

Peacock Tours Private Limited & Anr. v. Farooq Ahmed Shala & Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Fludyne Systems Vs Deepali Infratech Pvt. Ltd.

Sh Pradeep Kanodia & Ors. Vs Ashok Kanodia & Ors.

Niti International Ltd. Vs Shree Sagarmatha Distributors Pvt. Ltd.

Hindustan Power Projects (P) Ltd. Vs Gao Ji Fan & Ors.

Gopal Krishna Sawhney Vs Vinod Kumar

Re-M/S Simco Scientific Instruments Marketing Co. Ltd. Vs ....