NCLT stays appointments in Electrotherm

Ahmedabad: National Companies Law Tribunal, Ahmedabad has held the appointment of Sanjay Bhandari and Mukesh Bhandari as Director of All ELECTROTHERM India Ltd until March 17. The appointment of Sanjay Bhandari as an additional director of the Board has been postponed too, in accordance with the temporary order of the tribunal.


NCLT's order came after the petition was submitted by Siddharth Bhandari, son of Mukesh Bhandari, challenging the agenda of the council meeting which will be held on Thursday, which includes the removal of Uncle Sanjay.


"One of these agendas regarding the holders of the Nomination and Remuneration Committee for the appointment of Sanjay Bhandari as an additional director and director all the time for a period of three years," the message said.


Another agenda is to appoint Mukesh Bhandari as the Board Director all the time, he said.
The court questioned the credibility, services and feasibility of Sanjay Bhandari and stated that there was no documentary evidence or other material provided to prove the feasibility of Sanjay for the appointment on the ship.


"The Petitioner mainly accused that there was no Sanjay Bhandari credentials that had been brought in the record. We also found that there were no ingredients, in fact, there was only one letter that had been circulated by the chairman of the proposition had been given even in the email, no mentioned about credentials and feasibility / suitability in the appointment or qualification on the appointment or qualification.. "


NCLT Bench has also lived in Mukesh Bhandari, founder of the company and current non-executive director, as a director all the time and improves all cases to hear further on March 17.