N VAMADEVAN Vs. SREE NARAYANA DHARMA PARIPALANA YOGAM

JUDGEMENT

(1.) 'Sree Narayana Dharma Paripalana Yogam' ('Yogam' in short) is sought to be wound up in this Company Petition.

(2.) The first respondent 'Yogam' is a Charitable Non trading Company' incorporated in 1903 under the Travancore Regulation I of 1063 M. E., corresponding to Act 6 of 1882 of the Indian Companies Act (herein after referred to as the 'Act'). The petitioners were elected office bearers of the SNDP Unions / Sakhas under the first respondent. The case of the petitioners is that, ever since assuming the office as the General Secretary of the 'Yogam', the second respondent had been functioning in a quite autocratic manner, suspending the petitioners and others from their office and also bringing the Unions / Sakhas under the management of the Administrators, without any regard to the rules or procedures contemplated under the bye laws of the 'Yogam'. It is alleged that the affairs of the 'Yogam' are being mismanaged; the funds are being misappropriated and there is complete oppression of minority members, coupled with acts of fraud and such other illegal activities, in total disregard to the statutory prescriptions. The petitioners have approached this Court under S.203(b)(ii), read with 433(f) of the Companies Act with the following prayers:

(3.) When the above matter came up for admission before this Court on 01/01/2009, another learned Single Judge of this Court ordered as follows: