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IN THE HIGH COURT OF DELHI AT NEW DELHI
AMIT BANSAL, J
DHANUKA AGRITECH PRIVATE LIMITED – Appellant
Versus
IOTECHWORLD AVIGATION PRIVATE LIMITED – Respondent
| Table of Content |
|---|
| 1. challenges to the majority order citing sha provisions are made. (Para 2 , 3) |
| 2. respondent defends majority order based on aoa compliance. (Para 4 , 8 , 15) |
| 3. appellant claims rights under the sha regarding auditor appointment. (Para 5 , 6 , 7) |
| 4. the majority order is challenged for allegedly ignoring sha terms related to auditor appointment. (Para 12) |
| 5. the court emphasizes the binding nature of the sha on the company concerning decision-making. (Para 17 , 21) |
| 6. court grants stay on majority order pending further hearing. (Para 23 , 24) |
2. In terms of the order passed by the majority comprising two (2) arbitrators, the decision of the respondent no.1 company to appoint M/s SC Verma and Co. as the Auditor of the respondent company was upheld and hence, interim relief sought by the appellant under Section 17 of the Act was denied.
3. Per contra, the minority in its order of even date, has held that the resolution passed in the Board Meeting of the respondent company dated 9th May, 2025, appointing M/s SC Verma and Co. as the Auditor in the respondent no.1 company, is in contravention of Clauses 3.3.9 and 3.4.1 of the Shareholder’s Agreement (hereinafter ‘SHA’). Fur
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