https://www.taxtmi.com/caselaws?id=769997 NCLT Mumbai dismissed a petition alleging oppression and mismanagement under Sections 397 & 398 of Companies Act, 1956. The petitioner claimed illegal director appointments, misappropriation of investments, and irregular share allotments. However, handwritten documents from 1987 revealed the petitioner was part of an agreed three-group structure with equal ownership. The tribunal found the petitioner suppressed actual understanding between parties and attempted to exploit deceased directors' absence to challenge land plot sales. The petitioner failed to approach with clean hands and provided insufficient evidence. The company acted as facilitator, and petitioner received due sale proceeds from their share of plots. en-us Tue, 18 Mar 2025 00:00:00 +0530 Mon, 05 May 2025 08:37:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769997 NCLT Mumbai dismissed a petition alleging oppression and mismanagement under Sections 397 & 398 of Companies Act, 1956. The petitioner claimed illegal director appointments, misappropriation of investments, and irregular share allotments. However, handwritten documents from 1987 revealed the petitioner was part of an agreed three-group structure with equal ownership. The tribunal found the petitioner suppressed actual understanding between parties and attempted to exploit deceased directors' absence to challenge land plot sales. The petitioner failed to approach with clean hands and provided insufficient evidence. The company acted as facilitator, and petitioner received due sale proceeds from their share of plots. Case-Laws Companies Law Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769997