1. The CP/403/2019 and CP/4065/2019 have been filed under sections 240-242 of the Companies Act, 2013 (‘the Act’) invoking powers of this Tribunal to pass orders to bring end to the acts of oppression and mismanagement. Both these company petitions and the company application CA No. 205/2021 have been filed by the same Petitioners namely Mr. Jayantilal Bhimshi Gangar (Petitioner No. 1) and his son, Mr. Pragnesh Jayantilal Gangar (Petitioner No. 2) (together they are referred as “Petitioners”). As the petitions involve common set of facts, they were heard together and are being disposed of by this common order.

Factual Matrix

2. The Respondent Company namely, M/s Gangar Opticians Private Limited (‘the Company’) was incorporated on 25.04.2000 with the following object:

“To carry on, manage, maintain and conduct the business as supplier, dealer, importers, exporters and acting as Commission and/or indenting agent of spectacles, Ophthalmic Lenses, Spectacles Frames and Glasses, including Sunglasses, all types of Lenses including Contact Lenses and related Solutions and all other items, articles, things, machineries, equipments, consumables, stores and any other accessories by whatever