RAJIV NAG Vs. QUALITY ASSURANCE INSTITUTE INDIA LIMITED

JUDGEMENT

(1.) The appellant challenges the order dated 20/09/2000 passed by the Company Law Board, Northern Region Bench, New Delhi in CP No. 4/113/2000/CLP dismissing the appellant's petition filed under Section 113(3) of the Companies Act, 1956.

(2.) The appellant was a shareholder in the respondent company, M/s Quality Assurance Institute (India) Limited. He held 5000 equity shares of the respondent company. In the notice for the sixth Annual General Meeting (AGM) of the shareholders of the company held on 30/09/1999, the following was included as item No. 8 of the Agenda: -

(3.) In accordance with the provisions of Section 173(2) of the Companies Act, an Explanatory Statement was annexed to the above mentioned notice. Item No. 8 of the said explanatory statement was as follows:-