# In the matter of Ra-Ni Precast Private Limited MA-590-2019 in CP-1156-IB-2018

> NCLT judgment dated 2019-07-11. Citation: TCN-2019-NCLT-02560. The case involves an application filed by Mr. Kothanda Raman Sivakumar and Mr. Sathyamurthy…

- **Court:** NCLT
- **Order date:** 11 Jul 2019
- **Citation:** TCN-2019-NCLT-02560
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ra-ni-precast-private-limited-ma-590-2019-in-cp-1156-ib-2018-c8692543

## Summary

### Background

The case involves an application filed by Mr. Kothanda Raman Sivakumar and Mr. Sathyamurthy Balaji Sreedhar, who were appointed as Directors of RA-NI Precast Private Limited in an Extra-ordinary General Meeting (EoGM). They sought to be included as part of the Suspended Board of Directors and to be invited to the Committee of Creditors (CoC) meetings. A prior CP/42/2018 was filed seeking to direct the RoC to accept Form DIR-12 regarding their appointment, which was refused by Ms. Jayashree, another director, and the CP was adjourned sine die. The applicants contend they are entitled to be part of the CoC to assist the Resolution Professional and creditors with business details and assets. The Resolution Professional argued the matter was sub judice.

## Facts

Mr. Kothanda Raman Sivakumar and Mr. Sathyamurthy Balaji Sreedhar were appointed as Directors of RA-NI Precast Private Limited in an Extra-ordinary General Meeting (EoGM) held on 2018-08-17. Four out of five members were present at the EoGM, with 51.62% of the voting shares in favor of their appointment. Ms. Jayashree, another director, was not present despite notice. The company was required to file Form DIR-12 with the RoC, but failed to do so because Ms. Jayashree refused to file the required form. The applicants filed CP/42/2018 seeking to direct the RoC to accept the Form DIR-12, which was adjourned sine die. The company is undergoing the CIR process. The applicants sought to be included as part of the Suspended Board of Directors and to be invited to the CoC

…

## Issues and analysis

### Issue 1: Whether the Applicants, Mr. Kothanda Raman Sivakumar and Mr. Sathyamurthy Balaji Sreedhar, should …

**Ratio:** The prerogative of equity shareholders to appoint directors who represent their will and

…

**Reasoning:** The court reasoned that the applicants were appointed by the general body as directors.

…

**Interpretation:** The court interpreted the situation in light of the importance of shareholder

…

**Application:** The court applied the ratio to the specific facts, noting that Ms. Jayashree

…

## Parties

- **Judges:** Ch. Mohd Sharief…
- **Appellants:** Kothanda Raman…
- **Respondents:** Ra-Ni Precast…; Pathukasahasram…
- **Advocates:** Jayanth Viswanatha…; P.R.R…; +1 more

## Timeline

- **2018-08-17 — Extra-ordinary General…**: Mr. Kothanda Raman Sivakumar and Mr. Sathyamurthy Balaji Sreedhar were appointed as…
- **N/A — Filing of CP/…**: Applicants filed CP/42/2018 seeking to direct the RoC to accept Form DIR-12, which was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/ra-ni-precast-private-limited-ma-590-2019-in-cp-1156-ib-2018-c8692543