https://www.taxtmi.com/caselaws?id=197473 The court held that the provisions of Section 399 of the Companies Act are mandatory, requiring members to meet specific qualifications to apply for relief in cases of oppression or mismanagement. As the petitioners did not fulfill the mandatory requirements, the court dismissed the company petition, ruling that the petitioners lacked the necessary standing to maintain the petition. The petitioners were given the opportunity to pursue alternative actions under the Act to address their grievances. en-us Wed, 09 Aug 2006 00:00:00 +0530 Mon, 08 Jan 2018 14:24:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197473 The court held that the provisions of Section 399 of the Companies Act are mandatory, requiring members to meet specific qualifications to apply for relief in cases of oppression or mismanagement. As the petitioners did not fulfill the mandatory requirements, the court dismissed the company petition, ruling that the petitioners lacked the necessary standing to maintain the petition. The petitioners were given the opportunity to pursue alternative actions under the Act to address their grievances. Case-Laws Companies Law Wed, 09 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197473