IN THE NATIONAL COMPANY LAW TRIBUNAL NEW DELHI BENCH COURT-IV CA 238 of 2023 in and C.P. No 43 ND of 2008 IN THE MATTER OF :-

1. Smt. Madhu Bhaskar, 2. Shri Apoorv Bhaskar 3. Shri Akshat Bhaskar, 4. Ms. Akanksha Bhaskar …Petitioners VERSUS

1. M/s. ISHWAR INDUSTRIES LTD.

2. Shri Bharat Bhaskar 3. Shri Ashish Bhaskar …Respondents CORAM:

SHRI MANNI SANKARIAH SHANMUGA SUNDARAM, HON’BLE MEMBER (JUDICIAL)

SHRI ATUL CHATURVEDI HON’BLE MEMBER (TECHNICAL)

Order Delivered on: 20.03.2026 Present:

For the Applicant : Mr. Aditya Dewan, Ms. Himangi Kapoor Advs.

For the Respondent : Mr. Sarwar Raza, Mr. Mohd. Waseem Akram, Advs

ORDER

PER: MANNI SANKARIAH SHANMUGA SUNDARAM, MEMBER (J)

[CP/43/ND/2008]

1. The Present Application has been filed by the Applicant under Section

397, 398 & 402 of Companies Act, 1956 now Sections 241, 242, and 244 of the Companies Act against the respondents with the following relief i. Appointing an Administrator to take over the charge and control of the affairs and management of the Respondent Company and administer over its affairs under the instructions and directions of this Hon'ble Board ii. Directing the Administrator appointed by this Hon'ble Board to seize control of and ta