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Judgment
Jinan K.R., Member (J)
The Applicants/Petitioners in C.P. No. 1615/KB/2020 have filed an unnumbered Interlocutory Application being I.A. No. ......../KB/2020 praying for an urgent listing and hearing through video conferencing of C.P. No. 1615/KB/2018 filed u/s. 241- 242 of the Companies Act, 2013.
The urgency set out in the affidavit being found satisfactory, the IA is taken up for hearing on today through Video Conferencing on account of disruption of normal work of the Tribunal due to Pandemic COVID-19 situation and consequential lockdown upon servicing notice from the Registry to the respondents.
Brief Facts.
The Applicants/Petitioners have filed the Company Petition u/s. 241-242 of the Companies Act, 2013 and the same had matured for hearing. Accordingly, vide an order dated 11/12/2019, the matter was directed to be listed on 13/02/2020 for hearing. However, on 13/02/2020 the matter was adjourned to 26/03/2020 for hearing. In the meantime, pan-India lockdown was declared due to pandemic COVID-19 situation and the matter could not be taken up for hearing on 26/03/2020.
In the above circumstances, the Applicants/Petitioners have filed the instant IA praying for urgent listing and hearing through video conferencing of C.P. No. 1615/KB/2020.
Ld. Counsel for the petitioners as well as Ld. Sr. Counsel for the respondents appeared and they were heard at length.
Ld. Counsel Ms. Mamata Binani for the petitioners submits that the matter is pending before this Tribunal for quite some time and a lot of siphoning of funds will happen. Three Applications are pending in the matter regarding increase in paid up capital and purported removal of the Directors. There is continuous oppression and mismanagement by the Respondents and therefore, if the CP is not heard urgently the petitioners would be subjected to irreparable injury. Argued by the Ld. Counsel.
Ld. Sr. Counsel appearing for the respondents submits that this is a petition under Section 241-242 of the Companies Act, 2013 and pending for final hearing. Petitioners are already protected vide an interim order already passed by this Adjudicating Authority. It would be heard in preference. The grounds stated in the Petition may not be correct. It is an apprehension in complete vagueness. As far as the Directorship is concerned, the Petitioners have been removed in 2017 and the issue is not challenged in the Petition. However, It is completely left to the Adjudicating Authority.
Since the pleadings are complete and CP is matured for hearing we are inclined to list the matter on 18/09/2020 for hearing with a direction to submit written notes of argument three days before the date of hearing.
The unnumbered IA No. ......../KB/2020 in CP No. 1615/KB/2018 is disposed of accordingly.
The Registry is directed to send e-mail copies of the order forthwith to all the parties. Registry is directed to list this matter on 18.09.2020 even if lockdown is not lifted.