Authority: National Company Law Tribunal, New Delhi Court - IV
Order Date: 09.06.2026
Case Overview
The National Company Law Tribunal (NCLT) heard a petition filed under Sections 241-242 read with Section 59 of the Companies Act, 2013 by Valuent Infradevelopers Pvt. Ltd. and another applicant against Crossings Infrastructure Pvt. Ltd. and others. The petition alleges oppression and mismanagement in the affairs of the respondent company. The applicants sought interim relief in the form of an injunction against the holding of an Extraordinary General Meeting (EGM) proposed for 13.06.2026, specifically concerning the removal of petitioner No. 1's representative director, Mr. Ashok Chaudhary.
The tribunal heard submissions from Mr. Arun Saxena, counsel for the applicants, and Mr. Sunil Fernandes, Senior Advocate representing respondents No. 1, 2, 5, 8, 9 and 10, who were present physically and accepted notice. The remaining respondents were to be served notice through all modes for filing their replies and appearances.
The tribunal observed that every company must function and take appropriate decisions as per the provisions of the Companies Act, 2013 and its rules according to the company's requirements and the law. The bench found it not prudent to stay the holding of the EGM at this stage.
Final Outcome
The NCLT declined to grant an injunction against the EGM scheduled for 13.06.2026. However, any decision taken by the EGM regarding the removal of director Mr. Ashok Chaudhary shall be subject to the outcome of the present petition. The matter has been adjourned to 18.08.2026 for the remaining respondents to file their replies.
Topics: Corporate Governance, Director Removal, NCLT Proceedings