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Montecarlo Ltd & vs Bijapur Hungund Tollway

High Court Of Gujarat|26 September, 2013
(PER : HONOURABLE MR.JUSTICE RAVI R.TRIPATHI)
1. The present application is filed by Montecarlo Limited and another praying that, (A) That this Hon'ble Court be pleased to modify its order dated 1.9.2013 passed in O.J.Appeal No.24 of 2013 by directing the CLB (Company Law Board) to hear and finally decide Company Application No.178 of 2013, Company Application Nos.183 of 2013 to 189 of 2013 and the hearing of granting on interim reliefs prayed for by the petitioners in Company Petition No.78 of 2013 within a period of two weeks or within such time as this Hon'ble Court may deem just and appropriate;
(B) That this Hon'ble Court be pleased to clarify its order dated 1.9.2013 passed in O.J.Appeal No.24 of 2013 to the extent that no board meeting of the respondent No.1 will be held by the board of directors of the respondent No.1 till the time CLB hears and decides the aforesaid Company Petition/Company Applications in accordance with the directions issued by this Hon'ble Court vide its order dated 1.9.2013;
(C) That this Hon'ble Court be pleased to quash and set aside the notice dated 20.9.2013, issued by the respondent No.1 along with the agenda items proposed for the board meeting scheduled to be held on 30.9.2013....
2. Learned Advocate General appearing for the respondent No.1, on instructions of his client, stated that, the respondent No.1 is not keen on holding the meeting scheduled. He requested the Court to clarify that non holding of the said meeting, due to the pending litigation, will not incur any liability for the respondents under relevant provisions of the Companies Act.
Taking into consideration the nature of the controversy, it is deemed proper to request the Company Law Board to give top priority to the proceedings before it and decide the same as early as possible preferably by 14th October, 2013. Order accordingly.
It is clarified that non holding of the meeting scheduled on 30th September, 2013 in view of the orders passed by this Court will not incur any liability for the respondents arising under relevant provisions of the Companies Act. It will be open for the respondents to schedule such meeting after the matter is decided by the Company Law Board.
With this, present Misc. Civil Application is disposed of.
(RAVI R.TRIPATHI, J.) (R.D.KOTHARI, J.) ashish Page 3 of 3
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