https://www.taxtmi.com/caselaws?id=359851 A petition under Sections 397 and 398 of the Companies Act, 1956 was found unsustainable where the grievances related mainly to events from 1991 to 1998 and no fresh or continuing cause of action was shown. The pleadings were treated as a dressed up attempt to recast ordinary disputes as oppression and mismanagement claims, and a pre-incorporation private agreement was held unenforceable against the company because it had not been adopted after incorporation. The matter was also held barred by res judicata, with the petitioners found not to have approached the forum with clean hands. The petition was rejected as not maintainable and dismissed with costs. en-us Mon, 06 Nov 2017 00:00:00 +0530 Sat, 05 May 2018 08:41:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359851 A petition under Sections 397 and 398 of the Companies Act, 1956 was found unsustainable where the grievances related mainly to events from 1991 to 1998 and no fresh or continuing cause of action was shown. The pleadings were treated as a dressed up attempt to recast ordinary disputes as oppression and mismanagement claims, and a pre-incorporation private agreement was held unenforceable against the company because it had not been adopted after incorporation. The matter was also held barred by res judicata, with the petitioners found not to have approached the forum with clean hands. The petition was rejected as not maintainable and dismissed with costs. Case-Laws Companies Law Mon, 06 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359851