Cemantic Infra-Tech faces NCLT petition for director removal
- Four shareholders filed an NCLT petition against Cemantic Infra-Tech seeking removal of MD G. Satyanarayana and Promoter Director Kodali Vijaya Rani.
- The petition cites Sections 241, 242, and 244 of the Companies Act, 2013, following a rejected Special Notice dated August 13, 2026.
- The company excluded the removal resolutions from the 28th AGM notice issued August 5, 2026, citing sub-judice shareholding disputes before NCLAT.
- The NCLT Hyderabad Bench heard the case on September 23, 2026, granting no interim relief and scheduling the next hearing for November 25, 2026.
*this image is generated using AI for illustrative purposes only.
Cemantic Infra-Tech Limited disclosed that four shareholders have filed a petition before the National Company Law Tribunal (NCLT), Hyderabad Bench, seeking the removal of its Managing Director and a Promoter Director. The petition invokes Sections 241, 242, and 244 of the Companies Act, 2013, alleging oppression and mismanagement.
The shareholders, identified as Venkata Satyanarayana Potluri, Aveen Gudapati, Yelledi Srinivasa Rao, and Krishna Prasad Potluri, previously served a Special Notice on August 13, 2026. This notice proposed resolutions to remove G. Satyanarayana, Managing Director, and Kodali Vijaya Rani, Promoter Director. However, the matter was excluded from the notice for the 28th Annual General Meeting (AGM) because the AGM notice had already been issued on August 5, 2026.
Dispute over Shareholding Status
The company stated it replied to the Special Notice by informing the shareholders that their shareholding status was challenged before the National Company Law Appellate Tribunal (NCLAT). The company noted that the matter remained sub-judice, preventing any action on the items listed in the Special Notice. Consequently, the proposed removal resolutions did not form part of the AGM agenda circulated to members.
Hearing Schedule and Relief Sought
The petitioners sought to exercise their voting rights on all resolutions at the AGM. The NCLT Hyderabad Bench heard the matter on September 23, 2026. The tribunal did not grant any interim relief as prayed in the petition. Instead, the bench directed that the next hearing take place on November 25, 2026.
| Detail | Information |
|---|---|
| Petition Filed By | Four Shareholders |
| Directors Targeted | G. Satyanarayana (MD), Kodali Vijaya Rani (Promoter) |
| Legal Basis | Sections 241, 242, 244 of Companies Act, 2013 |
| Previous Hearing Date | September 23, 2026 |
| Next Hearing Date | November 25, 2026 |
| Interim Relief Granted | None |
What the Numbers Show
The timeline reveals a procedural conflict: the Special Notice arrived on August 13, 2026, eight days after the AGM notice was issued on August 5, 2026. This eight-day gap allowed the company to exclude the removal proposals from the AGM agenda without violating statutory notice periods for the meeting itself. The subsequent legal action shifts the dispute from corporate governance procedures within the AGM to judicial scrutiny under the oppression provisions of the Companies Act.
Historical Stock Returns for Cemantic Infra-Tech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.43% | -0.64% | -6.40% | -6.02% | 0.0% | -33.71% |
How might the NCLT's decision on the November 25 hearing impact the validity of resolutions passed during the 28th AGM?
What are the potential consequences for Cemantic Infra-Tech's stock price and investor confidence if the tribunal grants interim relief against the current management?
Will the ongoing NCLAT challenge regarding the petitioners' shareholding status influence the NCLT's willingness to entertain the oppression claims under Sections 241-244?
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