A Federal High Court sitting in Lagos State has halted the proposed AGM of Industrial and General Insurance Co. Plc slated and or scheduled for the 22nd of January, 2024 following the Motion Ex Parte filed by Special Event Limited and 15 other Petitioners.
Honourable Justice Akintayo Aluko after listening to the Motion for Interim Injunction argued by Prof. Oludayo Amokaye SAN, lead counsel for the Petitioners granted the Motion for Injunction filed by the Petitioners suspending the Annual General Meeting slated for 22nd of January, 2024 to be held in Abuja until the Motion for Interlocutory Injunction is heard and determined.
The Petitioners had filed a Petition on the 16th of November, 2023, and put the 1st Respondent on notice but in an apparent attempt to overreach the Petitioners, the 1st Respondent, Industrial and General Insurance Co. Plc advertised its AGM for 22nd of January, 2024 sequel to which the Petitioners and their Counsel approached the Court vide a Motion for Injunction. The Court after listening to the plight of the Petitioners, agreed with them that the holding of the AGM will make the substantive Petition an academic exrcise and foist a fait accompli on the Court since the very acts sought to be ratified at the AGM are the subject of the Petition. The Court therefore granted an Interim Injunction restraining Industrial and General Insurance Co. Plc from holding its proposed AGM until the hearing and determination of the Motion on Notice.
The Court adjourned the matter to the 16th of January, 2024 for argument on the Motion on Notice for Interlocutory Injunction and directed that the parties be put on Notice of the said Motion on Notice.
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