NCLT Upholds Removal of Directors as Shareholders Validly Exercised Statutory Rights

Mookada Moosa Mujeeb Rahiman Vs Saw Mill Owners Service Enterprises Limited (NCLT Kochi) In, the National Company Law Tribunal (NCLT), Kochi Bench, dismissed a company petition filed under Sections 98, 169, 241 and 242 of the Companies Act, 2013 challenging the removal of the petitioner and six other directors from the board of a public limited company through an Extraordinary General Meeting (EGM). The petitioner, a shareholder holding 17,566 shares and appointed as Managing Director for five years from September 2019, sought declarations that the EGM conducted on 03.03.2020 and the resolutio...