NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI

Company Appeal (AT) No. 375 of 2017

(Arising out of order dated 17.10.2017 passed by the National Company Law

Tribunal, Single Bench, Chennai in CA/90/2017).

IN THE MATTER OF:

1. Photon Infotech Pvt. Ltd.

No.7, 7^th Cross Street, Shastri Nagar,

Adyar, Chennai- 600020

2. Srinivas Balasubramanian,

No.7, 7^th Cross Street, Shastri Nagar,

Adyar, Chennai- 600020

3. Mukund Balasubramanian,

No.7, 7^th Cross Street, Shastri Nagar,

Adyar, Chennai- 600020

4. Latha Balasubramanian,

No.7, 7^th Cross Street, Shastri Nagar,

Adyar, Chennai- 600020

5. Photon Interactive Private Limited

Block No.5, Floor No.2, DLF IT Park,

Shivaji Nagar, Adyar, Chennai- 600020.

…Appellant No. 1

(Original Respondent no.1)

…Appellant No. 2

(Original Respondent no.2)

…Appellant No. 3

(Original Respondent no.3)

…Appellant No. 4

(Original Respondent no.4)

…Appellant No. 5

(Original Respondent no.5)

Vs

1. Medici Holdings Ltd.

St. Louis Business Centre, CnrDesroche

& St.Louis Streets, Port Louis, Mauritius

2. Photon BV, Previously North First Capital

Schiphol Boulevard, 399, 1118BJ,

Schiphol, PO Box 75789, 1118ZX

Schiphol, Netherlands

3. Amistad Capital Cooperatief U.A.

Schiphol Boulevard 399, 1118BJ Schiphol

Netherlands.

4. Amistad Capital Pte Ltd.

Registered office at 1,North Bridge Road,

#19-04/05, High Street Centre

...Respondent No. 1

(Original Applicant)

...Respondent No. 2

(Original Respondent No.6)

...Respondent No. 3

(Original Respondent No.7

...Respondent No. 4

(Original Respondent No.8)

2

Company Appeal (AT) No. 375, 395 & 396 of 2017

5. Ram Charan

No.7, 7^th Cross Street, Shastri Nagar,

Adyar, Chennai- 600020

...Respondent No. 5

(Original Respondent No.9)

Present:

For Appellant:

Mr. C. S. Vaidyanathan, Senior Advocate with

Mr.

R.

Anand

Padmanabhan,

Mr.

Goutham

Shivahankar, Mr. Srinath Ra. Iyengar, Ms. Ananya

Mukherjee, and Mr. Akshay Ravi, Advocates.

For Respondent:

Mr. Sankarnarayanan, Sr. Advocate with Mr. P.

Rajkumar Jhabhak, Mr. Anandh K. Shruti Iyer,

Mr.Shiv Mangal Sharma and Mr. Adhiraj, Advocates

for Respondent No. 1.

With

Company Appeal (AT) No. 395 of 2017

IN THE MATTER OF:

Ram Charan S.R,

Previously working as Chief Financial Officer of

M/s. Photon Infotech Private Limited and

Currently working as Chief Financial officer of

M/s. Photon Interactive Private Limited.

Having his office address at II Floor, block 5

DLF IT SEZ. 1/124 Mount Poonamallee Road,

Manapakkam Chennai TN 600089

…Appellants

Vs

1. Medici Holdings Ltd.

having its registered office

at St. Louis Business Centre, CnrDesroche

& St.Louis Streets, Port Louis, Mauritius,

Represented by its Authorized Representative

And power of Attorney Holder

Mr. Yashpal Kumar

Having office at No. 101-B,

Mittal Towers, Nariman Point Mumbai-400201

2. Photon Infotech Pvt. Ltd.

No.7, 7^th Cross Street, Shastri Nagar,

Adyar, Chennai- 600020

3

Company Appeal (AT) No. 375, 395 & 396 of 2017

3. Srinivas Balasubramanian,

No.7, 7^th Cross Street, Shastri Nagar,

Adyar, Chennai- 600020

4. Mukund Balasubramanian,

No.7, 7^th Cross Street, Shastri Nagar,

Adyar, Chennai- 600020

5. Latha Balasubramanian,

No.7, 7^th Cross Street, Shastri Nagar,

Adyar, Chennai- 600020

6. Photon Interactive Private Limited

Block No.5, Floor No.2, DLF IT Park,

Shivaji Nagar, Adyar, Chennai- 600020.

7. Photon NV, Previously North First Capital

Schiphol Boulevard, 399, 1118BJ,

Schiphol, PO Box 75789, 1118ZX

Schiphol, Netherlands.

Through its Director

Srinivas Balasubramanian,

No.7, 7^th Cross Street, Shastri Nagar,

Adyar, Chennai- 600020

8. Amistad Capita