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NATIONAL COMPANY LAW TRIBUNAL
Shri. Rajeev Bhardwaj, J, Shri. Sanjay Puri, T
Consortium of Ms. Karishma Jain, M/s. Jupiter City Developers (I) Limited, M/s. Adwaita Navigations Private Limited – Appellant
Versus
M/s. XL Energy Limited – Respondent
| Table of Content |
|---|
| 1. application for relisting of corporate shares. (Para 1 , 2) |
| 2. arguments regarding compliance with sebi regulations. (Para 6) |
| 3. court's observation on binding nature of resolution. (Para 9) |
| 4. final order for relisting without past compliance. (Para 10) |
ORDER
1. The present application is filed by the Consortium of Ms. Karishma Jain and Ors., the Successful Resolution Applicant of M/s. XL Energy Limited, inter alia, seeking the following reliefs:
a. To direct the Respondent No. 1 and Respondent No. 2 to consider the request of the Applicant herein afresh to re-list the Corporate Debtor entity forthwith and without any demur.
b. To direct Respondent No 3 and Respondent No. 4 to activate the Corporate Debtors relevant credentials required to implement the Resolution Plan.
c. To direct Respondent No. 3 and 4 as per clause 7.1.3.1 & 7.1.3.2 to take all the necessary steps/for cancellation /removal of all the shares respectively in the name of the Corporate Debtor with ISIN No. INE183H01011.
d. To direct Respondent No. 3 and 4 to furnish a list of shareholders as to enable the Applicant to issue fresh shares to the Existing shareholder & to credit the Demat account of the Sha
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