Three conditions provided under Section 244 of the Companies Act, 2013 can be alternatively applied and if any one of it is satisfied, the company petition under Section 241 is maintainable – Mr. Lokesh Kumar Bansal and Ors. Vs. Adhunik Food Products Pvt. Ltd. and Ors. – NCLAT New Delhi
January 4, 2025
The Hon’ble NCLAT set aside the order of NCLT wherein the NCLT relied upon only clause (c) above viz. members holding not less than 1/10 of issued share capital of the company to hold the appellant did not fulfil the criteria but whereas it completely ignored these three conditions viz (a), (b) and (c) above can be alternatively applied and if any one of it is satisfied, the company petition under Section 241 would be maintainable.