https://www.taxtmi.com/caselaws?id=106354 The court held that the term "affairs of the company" in sections 397 and 398 of the Companies Act, 1956 can include the affairs of subsidiaries depending on the specific facts of each case. It criticized the Company Law Board's decision to exclude subsidiaries from the proceedings prematurely and emphasized that the Board has jurisdiction to grant relief under sections 397, 398, and 402, which may involve subsidiaries if justified by the circumstances. The court set aside the Board's order and allowed the appeal, directing a full consideration of the matter on its merits. en-us Mon, 03 Jun 2002 00:00:00 +0530 Tue, 13 Mar 2012 17:48:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106354 The court held that the term "affairs of the company" in sections 397 and 398 of the Companies Act, 1956 can include the affairs of subsidiaries depending on the specific facts of each case. It criticized the Company Law Board's decision to exclude subsidiaries from the proceedings prematurely and emphasized that the Board has jurisdiction to grant relief under sections 397, 398, and 402, which may involve subsidiaries if justified by the circumstances. The court set aside the Board's order and allowed the appeal, directing a full consideration of the matter on its merits. Case-Laws Companies Law Mon, 03 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106354