JUDGEMENT

JUSTICE YOGESH KHANNA, MEMBER (JUDICIAL)

1.This appeal is filed against an order dated 12.10.2023 passed by the Ld. NCLT, Jaipur in CP No.79/241-242/JPR/2018.

2. The facts of the case are as under: -

i) The Appellant and the Respondent got married on 06.12.1989 in Jaipur, India;

ii) on 02.12.1991, M/s Stone Age Granite Pvt. Ltd. i.e. the Respondent No. 1 Company was incorporated as a Private Limited Company under the aegis of the Companies Act, 1956, wherein the Appellant was involved in the business activities;

iii) considering her contribution in the Respondent No. 1 Company, the Appellant was appointed as a Director in the Respondent Company on 16.09.1994;

iv) pertinently, the Appellant has a degree of Masters in Business Administration, whereas the Respondent No. 2 is only a Bachelor in Commerce. Therefore, even in terms of educational qualification, the Appellant is more qualified than Respondent No. 2 to handle the business of the Respondent No. 1 Company;

v) in 2004, the Respondent No. 1 Company was changed from Private Limited Company to Public Limited Company under the name of M/s Stone Age Limited;

vi) on 31.03.2004, 10,000 shares belonging to the Respondent No. 2 were t