Supreme Court of India · 2019-05-10

RAM PARSHOTAM MITTAL vs HOTEL QUEEN ROAD PVT.LTD. ANDORS.

Citation / case number: SC 2013/27193
Court: Supreme Court of India
Petitioner: RAM PARSHOTAM MITTAL
Respondent: HOTEL QUEEN ROAD PVT.LTD. ANDORS.
Author: HON'BLE MR. JUSTICE ARUN MISHRA
Bench: HON'BLE MR. JUSTICE NAVIN SINHA HON'BLE MR. JUSTICE ARUN MISHRA

Judgment text excerpt

The Supreme Court upheld the High Court's decision to set aside the Company Law Board's order regarding the disinvestment of shares in Hotel Queen Road Pvt. Ltd. under the Companies Act, 1956, specifically referencing Section 81(1A). The Court established that the procedural requirements for changing the status of a company from private to public were not met, and the resolution passed by HQRL was invalid due to late filing. Consequently, the appeal was dismissed, affirming the High Court's ruling.