Company's Property Sale Raises Oppression, Mismanagement Issues; Tribunals Lack Authority to Annul Sales u/ss 241, 242.

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....Sale of property of the company to the third parties - oppression and mismanagement - it is quite clear that the even though the sales made in the years 2013 and 2014 were the subject matter of the proceedings before the National Company Law Tribunal filed under Section 241 and 242 of the Companies Act, neither the National Company Law Tribunal nor the National Company Law Appellate Tribunal would have power to set aside the sales. In the absence of such power, the bar under section 430 of the Companies Act, would not apply. - HC....