https://www.taxtmi.com/caselaws?id=215013 Past acts with continuing adverse effect may sustain a petition for oppression and mismanagement under the Companies Act, 1956, even if a receiver was appointed and some impugned conduct had ceased before filing. The Company Law Board was not bound by strict civil procedure and could act on admitted facts and additional pleadings in line with natural justice. Findings on alleged oppression, diversion of income, remuneration and related transactions were held not perverse. An investigative audit under section 237(b) was within jurisdiction where materials disclosed circumstances suggesting oppression, misfeasance or fraud, and limited reliance on the receiver's reports was permissible. The impugned directions did not conflict with the earlier High Court orders. en-us Mon, 21 Feb 2011 00:00:00 +0530 Fri, 08 Feb 2013 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215013 Past acts with continuing adverse effect may sustain a petition for oppression and mismanagement under the Companies Act, 1956, even if a receiver was appointed and some impugned conduct had ceased before filing. The Company Law Board was not bound by strict civil procedure and could act on admitted facts and additional pleadings in line with natural justice. Findings on alleged oppression, diversion of income, remuneration and related transactions were held not perverse. An investigative audit under section 237(b) was within jurisdiction where materials disclosed circumstances suggesting oppression, misfeasance or fraud, and limited reliance on the receiver's reports was permissible. The impugned directions did not conflict with the earlier High Court orders. Case-Laws Companies Law Mon, 21 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215013