Petitioners seek waiver for Section 241 application under Companies Act amid oppression and mismanagement claims; tribunal's decision must be well-reasoned.

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....Oppression and Mismanagement - seeking to grant waiver to the Petitioners in order to enable them to file application u/s 241 - The deemed waiver, which has been granted, is nowhere provided in Section 244 of the Act rather the Act says that the Tribunal has to take a decision in regard to the merit of the application as to whether the waiter has to be given in respect of clause (a) and (b) of Section 244(1) and that order should not be arbitrary or capricious but should be speaking and reasoned. - AT....