Bombay High Court pronounces judgment on Letters Patent appeals in oppression and mismanagement case under Companies Act, 1956 — dispute over diversion of Contship agency business. The Court examined whether directors' diversion of business opportunity amounted to oppression and breach of fiduciary duty under Sections 397, 398 of the Companies Act, 1956 and Section 88 of the Indian Trusts Act, 1882.
31 Mar 2006The appeals arose from a dispute between the Puri Group and the Sippy Group, both holding equal shares and equal directorships in two private Indian s...
