ORDER

JUSTICE YOGESH KHANNA, MEMBR (JUDICIAL)

The present appeal is filed by the Appellant under Section 421 of the Companies Act, 2013 against an order dated 04.02.2026 passed by the Ld. NCLT Kolkata Bench in IA (CA) No.265/KB/2025 in CP(CA) No.183/KB/2025.

2. It is the argument of the learned senior counsel for the appellant while passing an order on waiver application, the Ld. NCLT, without any reason had given final relief to Respondent No.1 herein and the waiver was granted without any reason. It is argued waiver is an exception to filing of a petition under Section 242 of the Companies Act, 2013 and such exception can be allowed only under exceptional circumstances and not otherwise.

3. It is argued the threshold for filing of the petition in a company limited by guarantee is 1/5th of the total number of members; which number in the present case comes out to 150 approximately but whereas the company petition was filed only by 81 members of the Club, out of which 49 have walked away and now company petition is survived only with Respondent No.1 and 35 members and none of the other members, except the Respondent No.1 has a cause. It is argued the Respondent No.1 has since been remo