https://www.taxtmi.com/caselaws?id=195665 A petition under Sections 397 and 398 of the Companies Act, 1956 lies only for continuing oppression or mismanagement in the company's affairs as of the petition date; it is preventive, not compensatory. Grievances based on completed past acts or non-implementation of a settlement agreement do not, by themselves, constitute oppression in the conduct of company affairs. The company petition was therefore held not maintainable before the Company Law Board, and the parties were left to pursue enforcement of the settlement in a competent civil court. en-us Thu, 18 Nov 2004 00:00:00 +0530 Fri, 24 May 2024 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195665 A petition under Sections 397 and 398 of the Companies Act, 1956 lies only for continuing oppression or mismanagement in the company's affairs as of the petition date; it is preventive, not compensatory. Grievances based on completed past acts or non-implementation of a settlement agreement do not, by themselves, constitute oppression in the conduct of company affairs. The company petition was therefore held not maintainable before the Company Law Board, and the parties were left to pursue enforcement of the settlement in a competent civil court. Case-Laws Companies Law Thu, 18 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195665