NATIONAL COMPANY LAW TRIBUNAL
Yata Srinivasa Reddy – Appellant
Versus
Sri Adidurga Chit Fund Private Limited and 3 Others – Respondent
ORDER
1. This present Petition is filed by Petitioner/ Shri Yata Srinivasa Reddy under Section 241 and 242 of the Companies Act, 2013 seeking the following reliefs to :
a. The regulation of conduct of affairs of the Company in future;
b. Direct the Respondent No.2 to reinstate the petitioner or his nominees as the director with immediate effect
c. Direct the Respondent No.2 herein to conduct through audit of the Company call for the EGM immediately
d. Direct the Respondent No.2 herein to pay the damages charges with respect to the wrongful information placed before the Registrar of Companies with respect to the Resignation of the petitioner to exceeding Rs.10,00,000/- (Rupees Ten Lakhs only);
e. Direct the Respondent No.2 not to divert the funds/ profits/ business of the Company into his newly incorporated company;
f. As per the Balance sheet filed by the Company for the year 2019 it is evident that an amount of Rs.90,00,000/- is available in the company, Direct the Respondents of the Company not to use the same until completion of the present case;
g. And pass such other order/orders, direction/directions as may deem just and proper in terms of Section 242 of the Companies Act, 2013.
2. AV
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