https://www.taxtmi.com/caselaws?id=103102 SC upheld the HC Division Bench's exercise of powers under section 402 in a petition under sections 397 and 398 alleging oppression and mismanagement. The Bench's directions appointing the aggrieved shareholder as a director with powers equal to the existing director, requiring the controlling shareholder to repay misappropriated company funds, and directing the Registrar of Companies to investigate alleged fictitious purchases were affirmed. SC agreed that the circumstances did not justify winding up the company and that board representation would safeguard both the minority shareholder's and the company's interests. Finding no merit in either the minority shareholder's or the controlling shareholder's challenges, SC dismissed both appeals. en-us Tue, 08 Oct 1996 00:00:00 +0530 Sun, 14 Dec 2025 22:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103102 SC upheld the HC Division Bench's exercise of powers under section 402 in a petition under sections 397 and 398 alleging oppression and mismanagement. The Bench's directions appointing the aggrieved shareholder as a director with powers equal to the existing director, requiring the controlling shareholder to repay misappropriated company funds, and directing the Registrar of Companies to investigate alleged fictitious purchases were affirmed. SC agreed that the circumstances did not justify winding up the company and that board representation would safeguard both the minority shareholder's and the company's interests. Finding no merit in either the minority shareholder's or the controlling shareholder's challenges, SC dismissed both appeals. Case-Laws Companies Law Tue, 08 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103102