https://www.taxtmi.com/caselaws?id=105067 Relief in oppression and mismanagement proceedings under the Companies Act, 1956 requires a bona fide petition by a proper person acting with clean hands. A member who participated in the impugned transactions, or who lacks candour, cannot invoke sections 397, 398, 402 and 403 as a disinterested complainant, and parallel civil and criminal proceedings on the same dispute may reinforce the lack of bona fides. The text also notes that allegations of stock discrepancy, diversion of funds, and irregular share allotment or transfer must be proved before Company Law Board intervention is justified; without such proof, appointment of an administrator is unwarranted. en-us Fri, 17 Dec 1999 00:00:00 +0530 Thu, 17 Aug 2017 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105067 Relief in oppression and mismanagement proceedings under the Companies Act, 1956 requires a bona fide petition by a proper person acting with clean hands. A member who participated in the impugned transactions, or who lacks candour, cannot invoke sections 397, 398, 402 and 403 as a disinterested complainant, and parallel civil and criminal proceedings on the same dispute may reinforce the lack of bona fides. The text also notes that allegations of stock discrepancy, diversion of funds, and irregular share allotment or transfer must be proved before Company Law Board intervention is justified; without such proof, appointment of an administrator is unwarranted. Case-Laws Companies Law Fri, 17 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105067