Lokesh Kumar Bansal & Others Vs Adhunik Food Products Pvt Ltd & Ors (NCLAT Delhi)
Summary: The appeal challenged the 23.11.2023 order of the National Company Law Tribunal, New Delhi, dismissing the appellants’ petition under Section 241 of the Companies Act, 2013, on the ground that the requirements of Section 244 were not satisfied. The appellants stated that Respondent No.1 company had 30 members and that four members had jointly filed the petition, thereby constituting more than one-tenth of the total number of members. The NCLT, however, considered the appellants’ aggregate shareholding of 8.16% and held that the threshold was not fulfilled. The NCLAT observed that Section 244(1)(a) provides alternative conditions, including not less than one-tenth of the total number of members, or the prescribed shareholding threshold. Since there were admittedly 30 members when the petition was filed and four members had filed it, the NCLAT held that the condition of not less than one-tenth of the total number of members was fulfilled. It therefore held that the Company Petition was maintainable, set aside the impugned NCLT order and allowed the appeal. Pending applications were also disposed of.
Background
The appeal was filed against an impugned order dated 23.11.2023 passed by the Ld. National Company Law Tribunal, New Delhi, whereby the petition filed by the appellants under Section 241 of the Companies Act, 2013 against the Respondents had been dismissed on the ground that it did not meet the criteria provided for in Section 244 of the Companies Act, 2013.
