One Velamti Chandrasekhara Janardan Rao is the petitioner.

The petition is filed under Section 560 (6) of the Companies Act, 1956 (for short ‘the Act’) to cancel the striking off name of respondent company/M/s. Sree Raja Rajeswari Paper Mills Limited (for short ‘the company’) pursuant to application dated 09.03.2011 and to restore the name of company in the register maintained by the Registrar of Companies (ROC).

Heard Mr. S. Ravi for petitioner.

Petitioner alleges that he was a shareholder of the company. The company was set up in Hanuman Junction, Krishna District to manufacture and do business in paper boards. On 17.07.1999, the Managing Director Sri A.S.V.R.G.K. Prasad passed away. Thereafter, the Board comprised of Dr. V.V. Gopala Krishna and Sri V.V.R.B. Prasad. According to petitioner, these two Directors acted to the detriment of the company. Directors did not enjoy the confidence of majority of shareholders of the company. The Company Law Board, with the expiry of the term of these two Directors appointed Chairman to conduct meeting of shareholders of the company.

In the meeting convened by the Chairman, new Board of Directors of the company was constituted. The erst