https://www.taxtmi.com/caselaws?id=287921 The Company Law Board (CLB) concluded that the petitioners' grievances stemmed from breaches of contractual obligations rather than shareholder rights, falling outside the scope of Sections 397 and 398 of the Companies Act, 1956. The CLB found that the petitioners had not acted diligently and had acquiesced in the alleged mismanagement. Consequently, the petitioners were denied the reliefs sought, with the board of directors advised to address the issues within the lawful domain of the company's management. All interim orders were vacated. en-us Mon, 17 Dec 2007 00:00:00 +0530 Mon, 11 May 2020 09:12:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287921 The Company Law Board (CLB) concluded that the petitioners' grievances stemmed from breaches of contractual obligations rather than shareholder rights, falling outside the scope of Sections 397 and 398 of the Companies Act, 1956. The CLB found that the petitioners had not acted diligently and had acquiesced in the alleged mismanagement. Consequently, the petitioners were denied the reliefs sought, with the board of directors advised to address the issues within the lawful domain of the company's management. All interim orders were vacated. Case-Laws Companies Law Mon, 17 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287921