https://www.taxtmi.com/caselaws?id=199381 Petitions alleging oppression, mismanagement and financial irregularities under sections 397 and 398 of the Companies Act, 1956, with ancillary reliance on section 406 and Schedule XI for surcharge-type relief, could not be adjudicated on the existing record because the primary documents had been seized in connection with a pending criminal complaint and the respondents disputed the allegations. The Company Law Board held that, without original records, it was not possible to reach a definite conclusion on the alleged irregularities. It further stated that Schedule XI relief is drastic in nature and requires specific findings on each allegation, not a mere prima facie impression, and the petition was dismissed without any opinion on the merits. en-us Wed, 30 Sep 1998 00:00:00 +0530 Tue, 27 Feb 2018 15:16:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199381 Petitions alleging oppression, mismanagement and financial irregularities under sections 397 and 398 of the Companies Act, 1956, with ancillary reliance on section 406 and Schedule XI for surcharge-type relief, could not be adjudicated on the existing record because the primary documents had been seized in connection with a pending criminal complaint and the respondents disputed the allegations. The Company Law Board held that, without original records, it was not possible to reach a definite conclusion on the alleged irregularities. It further stated that Schedule XI relief is drastic in nature and requires specific findings on each allegation, not a mere prima facie impression, and the petition was dismissed without any opinion on the merits. Case-Laws Companies Law Wed, 30 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199381