Oppression and Mismanagement - Deletion of names of Respondent ...

Case Laws Companies Law

April 4, 2024

Oppression and Mismanagement - Deletion of names of Respondent No. 4 to 8 and 13 from the array of the Respondents - Section 241, 242 and 243 of Companies Act - The Tribunal allowed the deletion of the respondents but imposed a token amount of Rs. 5,00,000/- as compensation for the loss suffered by them due to the order of stay. The Appellant contested this decision, arguing that the imposition of cost was unwarranted since the respondents were rightfully impleaded initially. However, the Appellate Tribunal upheld its decision, stating that the respondents were unnecessarily dragged into the litigation, causing them business losses and reputational harm. The appeal was dismissed, affirming the Tribunal's decision.

View Source

← Previous Next →

Oppression and Mismanagement - Deletion of names of Respondent ...

Case Laws Companies Law

April 4, 2024

You may also like:

The State has no authority to frame a rule providing for cancellation of validly issued declaration form/form-C - Rule 17(20) of the Rajasthan Rules is declared ultra...

Oppression and mismanagement - Jurisdiction of NCLT to decide the issue - Principle of natural justice - the remedy provided under the Companies Act, 241 and 242 is a...

Oppression and mismanagement - the Tribunal has the power to make Interim Orders which it thinks fit for regulation of the conduct of the affairs of the Company -...

Oppression and Mismanagement - This ‘Tribunal’ keeping in mind of the ingredients of Section 241 and 242 of the Companies Act, 2013 comes to a resultant conclusion that...

The petition alleges oppression and mismanagement by the company's majority shareholders against the petitioners, who were removed as directors through an Extraordinary...

The NCLAT upheld the NCLT's decision to refuse waiver u/ss 244(1)(a) and (b) of the Companies Act 2013 to the Appellants, who held only 5.83% shareholding, to file an...

Clarification provided that custodial services provided by banks or financial institutions to Foreign Portfolio Investors (FPIs) are not treated as services provided to...

Treaty benefits - ‘gains from alienation of shares' - taxability or otherwise of capital gain from sale of equity shares under Article 13(4) of India-Mauritius DTAA -...

Rate of tax - the tax on the sale of coal within the said limit was @ 4 %. In view of Section 8 (2) (a) of the CST Act, sale of coal made by the revisionist without...

Appellant was found guilty of contravening Sections 8(3) read with 8(4) and Sections 8(3) read with 8(4) read with Section 64 of FERA for over-invoicing imported books...

Assessment of turnover of the applicant as per Section 4(3) of the VAT - levy of tax on turnover of sale has to be done in the manner provided in Section 4(3) of the Act...

The Tribunal has the authority to order the purchase of shares by the company from any member u/s 242(2)(b) of the Companies Act, 2013, in cases of oppression and...

The writ petition challenging notices u/ss 13(2) and 13(4) of the SARFAESI Act, 2002, including alleged arbitrary action for non-compliance with a letter of arrangement...

Undervaluation of goods - FOS and Sucralose when cleared to related parties and M/s Surya Herbals by not following CAS-4 valuation method as provided u/r 8 of Central...

Intra-state day - Export of services - Intermediary Services - Constitutional validity of provisions for determination of place of supply - Zero rated supply -...

Quick Updates: