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TMI BlogA Study of the terms "Oppression and mismanagement" under the Companies Act, 1956 and 2013.X X X X Extracts X X X X X X X X Extracts X X X X ..... ithdrawal of resignation from the post of Directorship - transmission of Equity Shares - validity of Annual General Meetings (AGM) conducted - failure to adhere to the request of the petitioner regarding furnishing the documents and inspection of books and accounts of the Company. A family feud between mother on one side and her three daughters on the other, concerning Respondent Company (Biolo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the directors of the company resigned from the company and took back his resignation three days later in the larger interest of the company and the other shareholders of the company is no irregularity. Further there was no protest or objection at that point of time to taking back of resignation as director and the appointment of the third daughter as the managing director of the Company. The t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Company herself to all the shareholders of the company, third daughter being appointed as managing director of the Company, acquiesced (approved) all the events is estopped from raising the said grievance at this point of time before the hon'ble apex court. Held there was no act of oppression or mismanagement of the company, no order for winding up the company can be passed on such grou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exception to application of these principles, be it Duomatic Principle or Doctrine of Indoor Management. The thrust of the Duomatic Principle is that strict adherence to a statutory requirement may be dispensed with if it is demonstrated otherwise on facts, if the same is consented by all members. A party cannot be allowed to wax and wane as the contradictory decision tend to take judicial ..... X X X X Extracts X X X X X X X X Extracts X X X X
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