2020 (1) TMI 641 - SCH - Companies Law

Stay of operation - Oppression and Mismanagement - case of appellant is that an abiding theme of Respondents conduct is the consistent and steady squeezeout of the Appellants rights and title to, and interest in, their ownership of 1st Respondent Company in a manner that is lacking in probity and is unfair. HELD THAT - Permission to file appeals is granted - Issue notice. Until further orders, the operation of the impugned judgment shall remain stayed.

Summary

Issues:
Permission to file appeals, Notice issuance, Stay on impugned judgment, Waiver of notice service, Invocation of Article 75 of Articles of Association.

Permission to file appeals:
The Supreme Court granted permission to file appeals in the case. This decision allows the parties involved to appeal the lower court's judgment at the Supreme Court level.

Notice issuance:
The Court issued notice regarding the case, ensuring that all relevant parties are informed about the ongoing legal proceedings and have the opportunity to present their arguments.

Stay on impugned judgment:
The operation of the impugned judgment was stayed until further orders. This means that the effects of the lower court's judgment are temporarily halted or suspended pending further instructions from the Supreme Court.

Waiver of notice service:
Learned counsel in the respective matters waived service of notice. This indicates that the legal representatives of the parties involved agreed to forego the formal service of notice and acknowledged their awareness of the proceedings without requiring formal notification.

Invocation of Article 75 of Articles of Association:
The senior counsel representing the appellant(s) stated that the appellant(s) do not intend to take any steps to invoke Article 75 of the Articles of Association of Tata Sons Private Ltd. This decision clarifies the appellant(s)' position regarding a specific provision in the company's Articles of Association.