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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Hon'ble Justice Rakesh Kumar Jain (Member(Judicial)) , Hon'ble Mr. Naresh Salecha (Member (Technical)) , Hon'ble Mr. Indevar Pandey (Member (Technical)) ,
Akash Khandelwal & Ors. – Appellant
Versus
Bharti Telecom Limited & Ors. – Respondent
JUDGEMENT
(03.04.2025)
NARESH SALECHA, MEMBER (TECHNICAL)
General Background
1. The present 14 appeals have been filed by 35 Appellants under Section 421 of the Companies Act, 2013 against the Impugned Order dated 27.09.2019 passed in CA Nos. 226, 227, 58, 59, 60, 61, 62, 63, 66, 499 & 746/2019 & 553/2018 in C.P (IB) No. 167/Chd/Hry/2018 by the National Company Law Tribunal, Chandigarh Bench, Chandigarh (‘Tribunal’). All Appellants were shareholders of the Respondent No. 1/ Bharti Telecom Limited (BTL) (Company) whose shares got extinguished after passing special resolution by the Respondent No. 1 for reduction of capital under Section 66 of the Companies Act, 2013 .
2. Sh. Shirish Vinod Shah (HUF) is the Appellant in Company Appeal (AT) No. 273 of 2019. This case has been pleaded by Mr. Anirudh Suresh.
3. Mr. Hasmukh Mithalal Nagori is the Appellant in Company Appeal (AT) No. 274 of 2019. This case has been pleaded by Mr. Anirudh Suresh.
4. There are three Appellants in Company Appeal (AT) No. 275 of 2019 i.e., Adwaeet A. Shah, Adwaeet A. Shah (HUF) and Arvind M Shah (HUF) (‘Appellants’). This case has been pleaded by Mr. Anirudh Suresh.
5. There are seven Appellants in Company Appeal (A
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