https://www.taxtmi.com/caselaws?id=242415 The court held that a petition under Sections 397 and 398 of the Companies Act, 1956, could be filed by majority shareholders if they meet the shareholding conditions. It clarified that the provisions of the Code of Civil Procedure are not strictly applicable to proceedings before the Company Law Board and emphasized substantive justice over technicalities. The court found that the fresh petition disclosed a new cause of action and criticized the CLB for not thoroughly examining the allegations of oppression and mismanagement. The impugned order dismissing the fresh petition was set aside, and the matter was remanded for further consideration. en-us Mon, 09 Sep 2013 00:00:00 +0530 Wed, 15 Jan 2014 10:20:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242415 The court held that a petition under Sections 397 and 398 of the Companies Act, 1956, could be filed by majority shareholders if they meet the shareholding conditions. It clarified that the provisions of the Code of Civil Procedure are not strictly applicable to proceedings before the Company Law Board and emphasized substantive justice over technicalities. The court found that the fresh petition disclosed a new cause of action and criticized the CLB for not thoroughly examining the allegations of oppression and mismanagement. The impugned order dismissing the fresh petition was set aside, and the matter was remanded for further consideration. Case-Laws Companies Law Mon, 09 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242415