https://www.taxtmi.com/caselaws?id=194358 Where a petition under Sections 397 and 398 of the Companies Act, 1956 alleges that oppressive acts themselves reduced the petitioners below the Section 399 threshold, maintainability cannot be judged only by the shareholding on the date of filing; the Tribunal must consider whether the qualifying stake existed before the alleged oppression, and the challenge was accepted. The Limitation Act, 1963 applied to Tribunal proceedings, and the petition was held within time because the relevant cause of action arose from the alleged oppressive allotment and diminution of shareholding, filed within three years under Article 113. The dismissal was set aside and the matter remitted for fresh consideration of maintainability and merits. en-us Thu, 06 Oct 2016 00:00:00 +0530 Tue, 05 Sep 2017 18:11:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194358 Where a petition under Sections 397 and 398 of the Companies Act, 1956 alleges that oppressive acts themselves reduced the petitioners below the Section 399 threshold, maintainability cannot be judged only by the shareholding on the date of filing; the Tribunal must consider whether the qualifying stake existed before the alleged oppression, and the challenge was accepted. The Limitation Act, 1963 applied to Tribunal proceedings, and the petition was held within time because the relevant cause of action arose from the alleged oppressive allotment and diminution of shareholding, filed within three years under Article 113. The dismissal was set aside and the matter remitted for fresh consideration of maintainability and merits. Case-Laws Companies Law Thu, 06 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194358