Pearl City Marine Products Private Limited Vs Hiras K & Ors. (NCLAT Chennai)
Summary: The National Company Law Appellate Tribunal, Chennai Bench, considered Company Appeal (AT) (CH) No.76/2026 filed by three members of M/s. Pearl City Marine Products Private Limited challenging the order dated 22.06.2026 passed by the NCLT, Kochi Bench in C.P. No.04/KOB/2026. The original petition had been instituted by the first respondent under Section 98 of the Companies Act, 2013 seeking intervention for convening an Extraordinary General Meeting.
The appellants stated that the company’s board originally comprised appellants 2 to 4 along with respondents 1 to 4. According to their submissions, respondents 3 and 4 had been removed from the board pursuant to a resolution passed at an Extraordinary General Meeting held on 10.11.2025, with the first respondent also being a party to that resolution.
Thereafter, according to the appellants, the alignment between the first respondent and appellants 2 to 4 changed. The first respondent issued a notice dated 20.01.2026 under Section 100 of the Companies Act, 2013 seeking an Extraordinary General Meeting for re-inducting respondents 3 and 4 onto the Board. The Board rejected the request by a 3:2 majority through its resolution dated 09.02.2026.
Before the Section 98 petition was filed, respondents 3 and 4 had instituted C.P. No.37/2026 before the NCLT under Sections 241 and 242 of the Companies Act, 2013. That petition was subsequently withdrawn when the first respondent moved the NCLT under Section 98 on 05.03.2026.
