ABC Pvt. Ltd. is a family-owned company where two brothers, Rajesh and Sanjay, are the key shareholders. Rajesh (along with his HUF) owns 17.58% of the company. Sanjay (along with his family branch) owns 82.42% of the co

The facts of the given situation are similar to the case of Amit Kumar Gupta V. LGW Ltd. & Ors (NCLAT). In this case, NCLT said that after hearing both parties, it cannot be argued that impugned order is detrimental and prejudicial to the interest of the Company. While passing the impugned order, the NCLT found that: "Parties have given their respective versions of the story and levelled allegations and counter allegations but, one thing common in their argument is that neither of the parties has any objection if an EOGM is allowed to be held by Board of Directors under the Chairmanship of Special Officer to be appointed by this Tribunal. What is challenged on the side of the respondent / petitioner in the petition is that no resolution is to be passed removing the director/ petitioner. That objection is devoid of any merit in view of power of the Company under section 169 of the Companies Act, 2013." The NCLAT further observed: With the above finding of NCLT, it is apparent that both the parties agreed to hold EOGM by the Board of Directors under the Chairmanship of Special Officer to be appointed by the Tribunal. Hence the impugned order is well reasoned order. We find no illegality or irregularity in the impugned order. Hence, appeal is dismissed. Applying same decision to the given situation, it may be said that appeal by Rajesh should be dismissed.