https://www.taxtmi.com/caselaws?id=98869 In oppression and mismanagement proceedings, the Court may adopt a protective interim measure by appointing a special officer to take possession of, preserve, and examine the company's assets and affairs where business has stalled and revival remains possible. The Court preferred a temporary arrangement over immediate liquidation, so that the company's viability could be assessed before final disposal. It also held that interim relief under sections 397 and 398 must reflect not only shareholder and creditor interests, but also public interest and the position of employees. This broader approach justified preservation of assets and investigation into prospects of resuscitation. en-us Tue, 20 Jul 1971 00:00:00 +0530 Tue, 24 Jan 2012 13:10:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98869 In oppression and mismanagement proceedings, the Court may adopt a protective interim measure by appointing a special officer to take possession of, preserve, and examine the company's assets and affairs where business has stalled and revival remains possible. The Court preferred a temporary arrangement over immediate liquidation, so that the company's viability could be assessed before final disposal. It also held that interim relief under sections 397 and 398 must reflect not only shareholder and creditor interests, but also public interest and the position of employees. This broader approach justified preservation of assets and investigation into prospects of resuscitation. Case-Laws Companies Law Tue, 20 Jul 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98869