Waiver application u/s. 244 of Companies Act by non-members cannot be sustained

Madras Race Club Vs R.D. Ramasamy (NCLAT Chennai)

NCLAT Chennai held that application under section 244 of the Companies Act, 2013 seeking waiver by the non-members cannot be allowed. Accordingly, order quashed and appeal stands allowed.

Facts- The Appellant i.e. Madras Race Club is a Company which stood registered within the meaning of Section 8 of the Companies Act and is a non-profit Company, which does not have any share capital. It had about 7417 Club Members as on the date, when the Company Application was initiated by the Respondents by filing the sam

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