https://www.taxtmi.com/caselaws?id=196367 The National Company Law Tribunal, Kolkata, ruled that the applicant lacked standing to intervene in a shareholder's action under sections 397 and 398 of the Companies Act, 1956. As the applicant was a non-shareholder and had not acquired any shares as per the agreement, the Tribunal found their involvement unnecessary for the resolution of the petition between the shareholder and potential purchaser. Therefore, the Tribunal rejected the applicant's plea for impleadment, emphasizing that the dispute was contractual and not within the scope of the company petition. The company petition proceeded without the applicant's intervention. en-us Wed, 24 Aug 2016 00:00:00 +0530 Tue, 28 Nov 2017 21:25:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196367 The National Company Law Tribunal, Kolkata, ruled that the applicant lacked standing to intervene in a shareholder's action under sections 397 and 398 of the Companies Act, 1956. As the applicant was a non-shareholder and had not acquired any shares as per the agreement, the Tribunal found their involvement unnecessary for the resolution of the petition between the shareholder and potential purchaser. Therefore, the Tribunal rejected the applicant's plea for impleadment, emphasizing that the dispute was contractual and not within the scope of the company petition. The company petition proceeded without the applicant's intervention. Case-Laws Companies Law Wed, 24 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196367