: Delhi Gymkhana members vs Administrator: Minister, MCA officials visit the club #IndiaNEWS #Immigration New Delhi, Dec 31 | In a new development in the ongoing bitter tussle between the members of

@IndiaNEWS

Posted in: #IndiaNEWS #Immigration

Delhi Gymkhana members vs Administrator: Minister, MCA officials visit the club #IndiaNEWS #Immigration
New Delhi, Dec 31 | In a new development in the ongoing bitter tussle between the members of Delhi Gymkhana Club members and Centre-appointed administrator former Uttar Pradesh IAS officer Om Pathak, it is learnt from reliable sources that Minister of State Corporate Affairs Rao Inderjit Singh and a very senior-level team from the Ministry of Corporate Affairs is on a spot visit.
According to sources, the minister and the MCA team held discussion with Pathak, following several complaints from the members regarding his decisions to manage the affairs of the club. The minister, secretary of corporate affairs, and a team of nearly 10 MCA officials are on the spot and having a discussion with the administrator, said a member, on condition of anonymity.
In the recently-held annual general meeting (AGM) Pathak attempted to change the decades old auditing system of the club, but over 90 per cent members voted against it. According to sources, 711 out of the total 738 members who participated in the AGM, voted against the proposal put forward by Pathak at the December 23 meeting. Administrators report, which pegged club losses since 2009 at Rs 127-crore plus, was met with strong opposition from several members. A member of the club said Pathak wants to show the club as a loss-making entity, fit for takeover by the Centre.
A communication sent to members of the club said: The net effect of this will be that the clubs profit and loss account will show a loss and the Club could then be presented as a loss-making entity fit for takeover by the Government. Further it would result in wrongly indicting all the former Presidents and GC for alleged fraud and grave financial irregularities, whereas the club has never committed any irregularity by adoption of this accounting procedure over the last many decades.
A member said the Administrator has no right to change accounting procedures as he has been tasked to only manage the club and not alter its policies. We, therefore, request you to kindly oppose the resolution in the AGM which has been put up for passing the Accounts and Directors Report, added the communication.
The National Company Law Appellate Tribunal on February 15 this year dissolved the clubs general committee and directed the Centre to appoint an Administrator to manage its affairs, after the Ministry of Corporate Affairs moved the tribunal alleging corruption, mismanagement, and nepotism in the club.
On September 30, in a major relief for the former general committee of the club, the Supreme Court, while hearing the appeals filed against the NCLAT order, remanded the matter back to the National Company Law Tribunal and asked it to settle it within four months.

Intraday stocks under 50 NSE India Twitter of India

Vote Up Vote Down

Login to post a comment!