I will attach notes and bare act of the subject so you can easily answer.
use cases wherever necessary and use the material i have provided.
Thank you.
QUESTION – QUESTION
Satya Federation (“SF”) is a company with share capital and 80 members. The company is engaged in the business of export of gems and other jewelry items to West Asian Markets. The registered office of the company is in Delhi. The two major shareholders of the company are Mr. Amit and Mr. Tinku, holding 6% and 5 % of the paid-up capital of the company. The company held its last Annual General Meeting on 5th October 2019, in which the members raised several issues regarding the ability and credibility of one of the directors by the name Mr. Dhamakaar. 20 members of the company with three-tenth of the paid-up share capital of the company are not satisfied by the performance of Mr. Dhamakaar. These members intend to remove him as soon as possible.
(a) These 20 members have approached you after the Annual General Meeting to seek your advice on the feasibility of the desired action. Your opinion should highlight the relevant provisions of Law and Case Law/s.
(b) Assume that 4 members out of these 20 members are body corporates. Are they allowed to give the requisition for the purpose of considering the removal of Mr. Dhamakaar? If yes, what is the procedure to be followed by the body corporate to attend the members meeting?
(c) Assume that the concerned shareholders having three-tenth of the paid-up share capital, do not submit the requisition to the Board. Mr. Tinku intends to submit an application to the Tribunal with a request to order a meeting of the company called, in which voting can be done for removing Mr. Dhamakaar. He seeks your opinion regarding the outcome of this application to the Tribunal.
(d) Is it mandatory to furnish the reasons in the requisition given to the Board of Directors, for removing Mr. Dhamakaar?
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