Logistics company Gati Limited had informed the BSE that it has received a notice from Allcargo Logistics Limited for removal of Mahendra Kumar Agarwal, Managing Director and director of the company as per the provisions of the Companies Act.
In a regulatory filing, Gati said, “Pursuant to the provisions of Regulation 30 of the Listing Regulations, we would like to inform you that the Company has received a special notice dated August 12, 2020 via e-mail today on August 15, 2020 under Section 115 of the Companies Act, 2013 and the Rules framed thereunder from Allcargo Logistics Limited — the company’s promoter and shareholder representing 46.86 per cent of the company’s voting capital, for considering and passing resolution for the removal of Mahendra Kumar Agarwal, Managing Director and director of the company under Section 169 of the Companies Act, 2013, at the ensuing Annual General Meeting.”