Oppression and Mismanagement - Allegations of financial ...

Court Orders End to Govt Control; Company Returns to Shareholder Management Amid Financial Mismanagement Allegations.

March 27, 2024

Case Laws Companies Law HC

Oppression and Mismanagement - Allegations of financial mismanagement and irregularities by the promoters/directors - The High court acknowledged that despite the appointment of Central Government directors, the desired development and management outcomes were not achieved, highlighting a failure to meet the developmental promises made to the plot holders. - The court ordered the cessation of Central Government control, allowing the company to be managed by its shareholders with specific directives to ensure development work commences, including the installation of basic infrastructure and facilities.

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Oppression and Mismanagement - Allegations of financial ...

Court Orders End to Govt Control; Company Returns to Shareholder Management Amid Financial Mismanagement Allegations.

March 27, 2024

Case Laws Companies Law HC

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