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| Information Type: | Judicial Information |
| Court: | Supreme Court |
| Date of Judgment(s): | 2010-05-07 |
| Case No: | 9110 OF 2008 |
| Case Type: | SLP (Civil) |
| Judge Name: | Altamas Kabir & Cyriac Joseph |
| Subject: | Company Law |
| Statutes / Acts: | Company Act, 1957 |
| Section: | ss. 397, 398, 402 and 403 |
| Bench Strength: | Double Bench |
| Advocate: | Jaidep Gupta, S. Ravi, Rana Mukherejee, Sunaina Kumar at. al (P) & K.G. Raghavan, Sr. Adv., Dharmendra Kumar Sinha, Kamal Budhiraja et. al (R) |
| State of Appellant(s): | Central Act |
| History of Case No: | Judgment and Order dated 18.03.2008 of the High Court of Judicature, Andhra Pradesh at Hyderabad in Company Appeal No. 3 of 2008 |
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Equal Citation Details : JT2010(5)SC628, 2010-4-LW21, 2010(5)SCALE427, (2010)6SCC719, [2010]100SCL402(SC), 2010(5)UJ2664, (2010)3CompLJ1(SC) |
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Case Note / Description : On an overall analysis of the facts involved and the part played by the Petitioner No.2 in the affairs of the Company at the relevant time, we are not inclined to interfere with the orders of the High Court or the Company Law Board, since we are not satisfied that any act of oppression or mismanagement within the meaning of Sections 397, 398, 402 and 403 of the Companies Act, 1956, has been made out by the Petitioners against the majority shareholders of the Respondent No.1 Company which would justify the making of a winding 39up order on the ground that it would be just and equitable to do so and to pass appropriate orders to bring to an end the matters complained of. The Special Leave Petition is, accordingly, dismissed. There will, however, be no order as to costs. |
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