The summons, issued below part 207(3) of the Corporations Act, 2013 on Monday, requested the administrators and officers of the corporate to look personally earlier than the Assistant Registrar of Corporations (West Bengal) on Friday.
In response to the summons, notices have been issued u/s 206 of Corporations Act in respect of Usha Martin, and an inquiry was instructed to be performed akin to the complaints of Basant Kumar Jhawar in opposition to the corporate.
Usha Martin later filed its reply in later a part of October final 12 months.
The current administration below Rajeev Jhawar couldn’t be contacted for his feedback.
The administrators and officers who’ve been summoned have been Prashant Jhawar, Rajeev Jhawar, Brij Kishore Jhawar, Basant Kumar Jhawar, G N Bajpai and Partha Sarathi Bhattacharya amongst others.
The ministry had requested for all of the minute books of the board assembly and annual normal conferences referring to the problems talked about within the complaints for the final 5 years.
Going through enormous losses, the administration of Usha Martin below Rajeev Jhawar determined to promote the metal enterprise to Tata Metal and stated the proceeds can be used to retire debt.
Usha Martin would stick with its wire rope enterprise after exiting from metal.
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