Somangsu Biswas Vs Calcutta Cricket & Football Club (NCLAT Delhi)
NCLAT Delhi held that granting waiver u/s. 244(1)(b) of the Companies Act, 2013 justified in a petition alleging oppression and mismanagement in the Calcutta Cricket & Football Club. Accordingly, appeal dismissed.
Facts- The Respondent 1 is a Company incorporated u/s. 8 of the Companies Act, 2013 and does not have any share capital. The Respondents No. 16 to 19 of the present appeal had filed Company Petition u/s. 241 and 242 of the Companies Act, 2013 before NCLT, Kolkata alleging oppression and mismanagement in running of Respondent No. 1 Company, namely, the Calcutta Cricket & Football Club.
Since the Respondents were not fulfilling the eligibility criteria prescribed u/s. 244(1)(b) by the Act, an Interlocutory Application was filed before NCLT seeking waiver of the eligibility prescribed in Section 244(1)(b) of the Act by invoking the powers given to the Tribunal in proviso to Section 241(1)(b) of the said Act.
Conclusion- Brookefiled Technologies Pvt. Ltd., Represented by Director, Mr. Pawan Kumar Jain and Another v. Shylaja Iyer and Others, reported in 2020 SCC OnLine NCLAT 829, wherein this Tribunal had granted waiver had held that it cannot be forgotten that in genuine and hardship cases, the discretion to waive the conditions specified in Section 244(b) of the Companies Act can be pressed into service.
