HC notice to Naidu and family

HYDERABAD, JULY 27: The Andhra Pradesh High Court on Monday issued notices to Chief Minister N Chandrababu Naidu, his wife, Bhuvaneswari,...

HYDERABAD, JULY 27: The Andhra Pradesh High Court on Monday issued notices to Chief Minister N Chandrababu Naidu, his wife, Bhuvaneswari, son, Lokesh, and others on a company petition seeking winding up of Heritage Foods (India) Ltd.

The notices before admission were issued by Justice Krishna Sharan Srivastav on a petition filed Rajya Sabha member M Mohan Babu, one of the promoters of Heritage Foods.

In his petition, Mohan Babu claimed that he was the principal promoter of the company and contributed nearly 30 per cent of the initial capital. He alleged that Chandrababu Naidu later gained control over the company by issuing additional shares to himself and his family members.

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The MP alleged that he was removed as director by misusing a blank paper signed by him and given to the company in good faith. A letter of resignation (by him) was drafted on it.

The petitioner sought an interim direction for appointment of an administrator to administer the affairs of Heritage Foods (India) Ltd and also soughtan order restraining Bhuvaneswari and Nagaraju Naidu from functioning as whole time directors.

The judge posted the matter to August 31 for further hearing.