https://www.taxtmi.com/caselaws?id=447493 The NCLT allowed an impleadment application in an oppression and mismanagement petition under Sections 241-242 of the Companies Act. The appellants, daughters of a deceased shareholder and sisters of the respondent against whom allegations were made, sought to be added as parties despite holding less than 10% shareholding required under Section 244. The NCLT held that each family branch should be represented for effective dispute resolution. The appellants, being shareholders with direct substantive interest in the controversy, were deemed necessary and proper parties whose inclusion would facilitate just and fair adjudication of the case. en-us Tue, 19 Dec 2023 00:00:00 +0530 Wed, 27 Dec 2023 18:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447493 The NCLT allowed an impleadment application in an oppression and mismanagement petition under Sections 241-242 of the Companies Act. The appellants, daughters of a deceased shareholder and sisters of the respondent against whom allegations were made, sought to be added as parties despite holding less than 10% shareholding required under Section 244. The NCLT held that each family branch should be represented for effective dispute resolution. The appellants, being shareholders with direct substantive interest in the controversy, were deemed necessary and proper parties whose inclusion would facilitate just and fair adjudication of the case. Case-Laws Companies Law Tue, 19 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447493