Raffles Interior (HKG:1376) said the company's majority shareholder moved a Cayman Islands court to restrain a planned shareholders meeting and the issuance of new shares, according to a Hong Kong bourse filing Friday.

The interior fitting-out services firm said Han Vision Holding, which owns 51% of the business, moved the Grand Court of the Cayman Islands to bar the company from holding any board meeting or issue new shares without the written consent of the plaintiff or Zheng Nenghuan, who was suspended from duties as chairman.

The firm said it had planned to issue 200 million new shares prior to the order.

Han Vision previously asked the firm to call an extraordinary general meeting to overhaul the company's board, proposing the removal of Ding Hing Hui, Wong Heung Ming Henry, Gay Soon Watt, and Loke Pui San as directors.

The shareholder nominated Qi Hongjuan, Wu Lun, He Yong, Wang Dong, and Wang Guoyue as replacements.

An extraordinary general meeting was due to be held on Jan. 20, but Han Vision will now propose adjourning the meeting to a date after Feb. 20, Raffles Interior said.

The firm said it expects to postpone its EGM and was seeking legal advice on the matter. A hearing with the Cayman Islands court is expected to take place by Feb. 6.

Raffles Interior recently received a complaint alleging violations of China's foreign exchange regulations in a HK$300 million transaction signed by Zheng.