https://www.taxtmi.com/caselaws?id=261702 The petition alleging oppression and mismanagement under sections 397 and 398 of the Companies Act, 1956 was dismissed by the Bench. The appointment of the first petitioner as Chairman and Managing Director for life was found invalid due to irregularities in the EGM held on 19.08.2004. However, the resolutions passed at the EGM on 12.01.2006 were deemed legal and valid. Allegations of misuse of office and causing loss to the company by the first petitioner were not substantiated. The Bench concluded that there was no case of oppression or mismanagement, and the petition was dismissed without costs. en-us Fri, 09 Jan 2015 00:00:00 +0530 Thu, 09 Jul 2015 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261702 The petition alleging oppression and mismanagement under sections 397 and 398 of the Companies Act, 1956 was dismissed by the Bench. The appointment of the first petitioner as Chairman and Managing Director for life was found invalid due to irregularities in the EGM held on 19.08.2004. However, the resolutions passed at the EGM on 12.01.2006 were deemed legal and valid. Allegations of misuse of office and causing loss to the company by the first petitioner were not substantiated. The Bench concluded that there was no case of oppression or mismanagement, and the petition was dismissed without costs. Case-Laws Companies Law Fri, 09 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261702