https://www.taxtmi.com/caselaws?id=126899 The petition filed by SFIO on behalf of the Union of India was dismissed as not maintainable by the court. The court ruled that the petition seeking recovery of amounts from former directors was not appropriate under sections 397-398 of the Companies Act, which are intended for ongoing oppression and mismanagement issues. The court highlighted the lack of continuous acts complained of and the need for compliance with legal conditions before taking action. The petitioner was advised to explore other legal avenues for relief. en-us Sat, 09 Oct 2010 00:00:00 +0530 Tue, 05 Feb 2013 14:13:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126899 The petition filed by SFIO on behalf of the Union of India was dismissed as not maintainable by the court. The court ruled that the petition seeking recovery of amounts from former directors was not appropriate under sections 397-398 of the Companies Act, which are intended for ongoing oppression and mismanagement issues. The court highlighted the lack of continuous acts complained of and the need for compliance with legal conditions before taking action. The petitioner was advised to explore other legal avenues for relief. Case-Laws Companies Law Sat, 09 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126899