The Applicant company claiming to be a 49% shareholder in the Respondent, by an originating motion on notice under section 218 of the Companies Act, Act 179 prays for an order in respect of the affairs of the company and in particular the following:
A declaration that the affairs of the Respondent are being conducted in a manner which is burdensome, harsh and wrongful.
An order for the Directors of the Company to account for finances of the Company since 2008
Or in the alternative
An order for an independent auditor to be appointed to audit the finances of the Company from 2008
And for any order which the court may deem fit.
Applicant provides the basis for the application he launched under section 218 of Act 179 in the affidavit that accompanied the application and deposed to by one Ziad Ezzedine as follows: that Respondent has two shareholders being Pierre Aim with 51% and Applicant with 49% shares and complains that since the Respondent started operating there has not been any meeting of…