https://www.taxtmi.com/caselaws?id=197770 Grievances rooted in a share purchase agreement, including alleged non-payment of consideration, lapse of the arrangement, induction of management, and proposed amendment of articles, were treated as contractual disputes rather than independent oppression or mismanagement claims. The petitioners had themselves acted on the agreement and participated in company decisions recognising it, which weakened the attempt to invoke sections 397 and 398 of the Companies Act, 1956. An isolated act was also regarded as insufficient to justify statutory relief on its own. On the pleaded facts, the petition was held not maintainable and no relief under sections 397 and 398 was granted. en-us Tue, 29 May 2007 00:00:00 +0530 Mon, 15 Jan 2018 15:05:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197770 Grievances rooted in a share purchase agreement, including alleged non-payment of consideration, lapse of the arrangement, induction of management, and proposed amendment of articles, were treated as contractual disputes rather than independent oppression or mismanagement claims. The petitioners had themselves acted on the agreement and participated in company decisions recognising it, which weakened the attempt to invoke sections 397 and 398 of the Companies Act, 1956. An isolated act was also regarded as insufficient to justify statutory relief on its own. On the pleaded facts, the petition was held not maintainable and no relief under sections 397 and 398 was granted. Case-Laws Companies Law Tue, 29 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197770