https://www.taxtmi.com/caselaws?id=221786 The court dismissed the derivative action brought by a shareholder seeking specific performance and injunctions to prevent the termination of a Business Service Agreement. The court did not delve deeply into the maintainability of the derivative action but focused on the relief sought. It found that the Joint Venture Agreement terms were not binding on the defendant company without being incorporated into the Articles of Association. The court also determined that the Business Service Agreement was non-enforceable under the Specific Relief Act due to its nature and termination clauses. The court concluded that the suit for injunction was not maintainable and emphasized that damages or other reliefs could still be claimed. en-us Tue, 19 Mar 2013 00:00:00 +0530 Mon, 25 Mar 2013 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221786 The court dismissed the derivative action brought by a shareholder seeking specific performance and injunctions to prevent the termination of a Business Service Agreement. The court did not delve deeply into the maintainability of the derivative action but focused on the relief sought. It found that the Joint Venture Agreement terms were not binding on the defendant company without being incorporated into the Articles of Association. The court also determined that the Business Service Agreement was non-enforceable under the Specific Relief Act due to its nature and termination clauses. The court concluded that the suit for injunction was not maintainable and emphasized that damages or other reliefs could still be claimed. Case-Laws Companies Law Tue, 19 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221786