NISHANT
Oppression/Mismanagement
NISHANT MEHROTRA 25 Jan 2018

Oppression/Mismanagement

NCLT Mumbai Bench :: In Pawan Kumar Kanodia vs. Kanodia Tex Industries :: Companies Act, 1956 – Section 399 read with section 397/398 – Oppression/Mismanagement ::


(A) Where the petitioner has failed to demonstrate that he has requisite number of shareholding as prescribed under the law in the company he is debarred by operation of law to pursue petition under section 397/398.


(B) Where in respect of shares transferred and registered in the register of members the allegation is that there is no transfer deed, but rest of the requirements of transfer of shares have been fulfilled, the said transfer is not to be doubted.


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