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1 - 10 of 24 (0.43 seconds)The Companies Act, 1956
Section 397 in The Companies Act, 1956 [Entire Act]
Section 398 in The Companies Act, 1956 [Entire Act]
Section 402 in The Companies Act, 1956 [Entire Act]
Shirish Finance & Investment (P.) Ltd. vs M. Sreenivasulu Reddy on 28 September, 2001
If such allegations are proved, the acts complained of would render the allotment void, as held in the case of Shirish Finance (supra). The acts complained of have resulted in substantial reduction of voting rights of the appellants. This allegation is qua the company, touching upon the rights of minority shareholders. The company's need of finance could not justify overriding of the SEBI Regulations. I am of the view that the Board should have examined the allegation of the appellants on this count, and come to a finding.
Dale And Carrington Invt. P. Ltd. And ... vs P.K. Prathapan And Others on 13 September, 2004
19. The appellants' case is that the finding of the Board does not reflect appreciation of these facts, and if these facts were considered by the Board, it would have led to the conclusion that there was oppression of by the controlling group in both these companies of the appellants, who constitute minority group. The foundation of this appeal is that the finding of the Board is perverse, and such finding can be challenged in an appeal under Section 10F of the Act. The authority relied upon in support of this proposition is the decision of the Hon'ble Supreme Court of India in the case of Dale and Carrington Invt. (P). Ltd. v. P.K. Prathapan . Argument on behalf of the appellants was advanced to the effect that acts of mismanagement and oppression need not be proved with precision, but such acts of oppression can be gathered from indirect evidence.
Sangramsinh P. Gaekwad & Ors vs Shantadevi P. Gaekwad (Dead)Thr.Lrs. & ... on 20 January, 2005
Having observed so, the Court passed certain directions. This principle has been re-confirmed in the case of Sangram singh P. Gaekwad (supra):
M/S Kilpest Pvt. Ltd. & Ors vs Shekhar Mehra on 8 October, 1996
The Court's wide power to give directions under Section 402 of the Companies Act, 1956 has also been recognised by the Hon'ble Supreme Court of India in the case of Kilpest Pvt. Ltd. and Ors. v. Shekhar Mehra .
Debi Jhora Tea Co. Ltd. vs Barendra Krishna Bhowmick And Ors. on 22 February, 1979
50. Learned Counsel for the respondents, advancing argument on the basis of cross-objections, submitted that there was no material before the Board to grant any relief and the petitions should have been dismissed straightaway. He also argued that finding of souring of relationship was confined to Bateli Tea Company Limited's case. In support of this submission, reference was made to the following passage in the order: