https://www.taxtmi.com/caselaws?id=345111 The tribunal found that acts of omission and commission by R2 and R3 constituted mismanagement, though not oppression, causing losses to the company. R3 was held solely liable for the losses, amounting to Rs. 16.48 crores, and directed to repay with bank interest. R3 was removed as director, and the petitioner appointed as Director-cum-Managing Director, with R2's support mandated. Restrictions were placed on the petitioner to prevent competition with the company. The petition was disposed of without costs. en-us Wed, 07 Jun 2017 00:00:00 +0530 Sat, 08 Jul 2017 07:42:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345111 The tribunal found that acts of omission and commission by R2 and R3 constituted mismanagement, though not oppression, causing losses to the company. R3 was held solely liable for the losses, amounting to Rs. 16.48 crores, and directed to repay with bank interest. R3 was removed as director, and the petitioner appointed as Director-cum-Managing Director, with R2's support mandated. Restrictions were placed on the petitioner to prevent competition with the company. The petition was disposed of without costs. Case-Laws Companies Law Wed, 07 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345111