2023 (8) TMI 1585 - SCH - IBC

Oppression and mismanagement - Respondent No. 1 company is a quasi-partnership or not - Family settlements - Alleged acquisition of shares by Respondent No. 2 and Late Trimbak Bedekar with a view to reduce the petitioners to minority - it was held by NCLAT that The Petition is only partly allowed as against the Respondents No. 1 to 5 with an order that Respondents No. 1 to 5 shall buy out the shareholding of the Petitioners on a fair value to be determined by an independent registered valuer to be appointed on the basis of consensus between the parties within a period of one month from today. - HELD THAT - It is not required to interfere with the impugned order. The civil appeal stands dismissed.

Summary

The Supreme Court, with Hon'ble Mr. Justice Sanjay Kishan Kaul and Hon'ble Mr. Justice Sudhanshu Dhulia, heard counsels for both parties and decided not to interfere with the impugned order. The civil appeal was dismissed.