Raj, is the promoter and director of Alpha Pvt. Ltd., a closely held company. He and his HUF owns 17.58% of equity, whereas his brother Saj along with other shareholders owns 82.42% of equity. Over a period of time, diff

The facts of the given situation are similar to the decision by National Company Law Appellate Tribunal (NCLAT) in the case of 'Amit Kumar Gupta v. LGW Ltd. & Ors' (NCLAT) on 22 January, 2020. The relevant part of the decision is discussed as under: National Company Law Tribunal (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 Extra Ordinary General Meeting (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 Act (Companies Act, 2013)." 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 NCLAT. Hence the impugned order is well reasoned order. We find no illegality or irregularity in the impugned order. Hence, appeal is dismissed. In view of the above case, it can be said that the appeal by Raj against the impugned order would be dismissed.