https://www.taxtmi.com/caselaws?id=272968 The court found that the petitioners failed to prove oppressive management by respondents Nos. 1 to 4. Despite acknowledging disputes disrupting the company's business, the court deemed the petition under section 397 of the Companies Act not maintainable. To resolve the deadlock, respondents Nos. 2 to 4 were directed to purchase shares from petitioners and the fifth respondent within two months. Failure to do so would grant petitioners and the fifth respondent the option to buy shares from respondents Nos. 1 to 4. If neither group exercised these options, the company would be wound up. The petition was dismissed without costs. en-us Wed, 04 Apr 1990 00:00:00 +0530 Mon, 28 May 2018 16:45:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272968 The court found that the petitioners failed to prove oppressive management by respondents Nos. 1 to 4. Despite acknowledging disputes disrupting the company's business, the court deemed the petition under section 397 of the Companies Act not maintainable. To resolve the deadlock, respondents Nos. 2 to 4 were directed to purchase shares from petitioners and the fifth respondent within two months. Failure to do so would grant petitioners and the fifth respondent the option to buy shares from respondents Nos. 1 to 4. If neither group exercised these options, the company would be wound up. The petition was dismissed without costs. Case-Laws Companies Law Wed, 04 Apr 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272968