ORBIT ELECTRICALS PRIVATE LIMITED Vs. DEEPAK KISHAN CHHABRIA

JUDGEMENT

(1.) The order of this Court of 26/9/2023 sets out the background. Rather than replicate the background, we set it out below : "1 The National Company Law Tribunal[1] dismissed the application filed by the first respondent for the grant of interim relief by an order dtd. 31/12/2019. The first respondent is in appeal before the National Company Law Appellate Tribunal[2]. Admittedly, no interim relief operated in favour of the first respondent during the pendency of the appeal.

(2.) By the above order of this Court, the interim direction which was passed by the NCLAT on 21/9/2023 at the stage of reserving orders, restoring the status quo ante "as was available prior to EOGM dtd. 3/5/2019" was vacated bearing in mind that :

(3.) While vacating the interim order, this Court noted that the Annual General Meeting of Finolex Cables Limited was to take place on 29/9/2023 and specifically directed that "any action which is taken place on proposed resolution No 4 pertaining to the appointment of the Executive Chairperson shall be subject to the outcome of the appeal which is pending before the NCLAT."