Vashisht Kumar Goyal v. Mahamaya Exports Pvt.Ltd. & Ors

O R D E R %

10.11.2016

The present appeal under Section 10F of the Companies Act, 1956 impugns the orders dated 19th May 2016 and 26th May 2016.

Essentially, the challenge is predicated on the direction issued by the Company Law Board permitting the respondent No.2, a shareholder, to inspect the books of account and other relevant papers of the company. It is observed at this stage that the aforesaid direction came with a caveat that the documents of which inspection was to be granted to respondent No. 2 would be used for proceedings pending before the Company Law Board and not for any other purpose.

In this backdrop, learned counsel appearing on behalf of the parties have consented to the following directions:-

¶1The respondent No.1 company shall file the subject documents in a sealed cover before the Company Law Board (now National Company Law Tribunal) within two weeks from today.

¶2The respondent No.2 is at liberty to institute an appropriate application in accordance with law seeking permission of the National Company Law Tribunal to inspect subject documents. It is, however, made clear that the said application when instituted shall be determined by the National Company Law Tribunal without being influenced in any manner by the impugned order, in accordance with law.

With the above order, the appeal is disposed of, leaving the parties to bear their own costs.

SIDDHARTH MRIDUL, J NOVEMBER 10, 2016 Aj

* IN THE HIGH COURT OF DELHI AT NEW DELHI + CO.A(SB) 25/2016 & CO. APPL. 2309/2016 VASHISHT KUMAR GOYAL ..... Appellant Through: Mr. Harshit Agarwal, Advocate versus MAHAMAYA EXPORTS PVT.LTD. & ORS. ..... Respondent Through: Mr. Amit Kumar, Advocate for R-1, 4, 5 & 6. Ms. Gurkamal Hora Arora, Advocate for R-2 & 3. CORAM: HON'BLE MR. JUSTICE SIDDHARTH MRIDUL