Search Results for "Sections 397 398"

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Search Results for "Sections 397 398"

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High Court

High Court of Bombay Upholds CLB Order in Oppression and Mismanagement Case — Conversion of Preference Shares and Board Reconstitution Upheld. Share Subscription cum Shareholders Agreement and Articles of Association amendments validly passed; conversion of preference shares into equity shares resulting in majority shareholding for investors was lawful.

7 Jan 2016

The case involves appeals against an order of the Company Law Board (CLB) in a petition filed by Respondent Nos. 1 and 2 under Sections 397 and 398 of...

High Court

Bombay High Court Dismisses Appeal by Secured Creditor IDBI in Company Petition for Oppression and Mismanagement — Upholds CLB Order Refusing Interim Relief. Court holds that a secured creditor cannot maintain a petition under Sections 397 and 398 of the Companies Act, 1956 for alleged mismanagement, as the remedy lies under the SARFAESI Act or other recovery laws.

30 Nov -0001

The case involves an appeal by Industrial Development Bank of India Ltd. (IDBI), a secured creditor, against an order of the Company Law Board (CLB) r...

High Court

Bombay High Court Dismisses Appeal Against CLB Order in Company Petition for Oppression and Mismanagement — Upholds Finding That Petition Was Not Maintainable Due to Lack of Consent Under Section 399 of Companies Act, 1956. The court held that consent of members under Section 399 must be obtained prior to filing the petition and cannot be cured after filing.

16 Apr 2018

The case involves an appeal against the order of the Company Law Board (CLB) dismissing Company Petition No.4 of 2007 filed by the appellants under Se...

Supreme Court

Supreme Court Quashes High Court's Stay on Discharge Order — Upholds Liberty of Accused. Apex Court Reaffirms Higher Pedestal of Discharged Accused — Lays Down Strict Parameters for Stay on Discharge Orders

28 Feb 2025

Supreme Court quashed the High Court’s stay and surrender order — Held that stay on discharge orders should only be granted in rare and exceptiona...

High Court

High Court of Bombay Upholds CLB Order in Oppression and Mismanagement Case — Share Conversion and Board Reconstitution Upheld. The court affirmed that the conversion of preference shares into equity shares under a Share Subscription cum Shareholders Agreement was valid and that the CLB correctly found oppression and mismanagement by the promoters.

7 Jan 2016

The case involves appeals against an order of the Company Law Board (CLB) in a petition filed by Respondent Nos. 1 and 2 under Sections 397 and 398 of...

High Court

Bombay High Court Quashes Process Under Section 127 of Companies Act for Non-Payment of Dividend Due to Pending Dispute Between Shareholder Groups. The court held that the defence under section 127(c) of the Companies Act, 2013, which allows non-payment if there is a dispute regarding the right to receive the dividend, must be considered before issuing process.

22 Apr 2019

The case involves three criminal applications filed by the directors of Man Industries (India) Limited (MIIL) seeking quashing of notices and process ...

High Court

High Court of Judicature at Bombay Hears Company Appeal (L) No. 47 of 2012 Along with Connected Appeals and Applications. No substantive judgment text was provided; only the cause list and appearances were available.

6 Nov 2012

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High Court

Bombay High Court Quashes Summons Under Section 319 CrPC Against Proposed Accused in Sessions Case — Discharge Under Section 169 CrPC Requires Inquiry Under Section 300(5) r/w Section 398 CrPC Before Invoking Section 319 CrPC.

21 Sep 2016

The applicants, seven individuals, were originally named in a First Information Report but were discharged under Section 169 of the Code of Criminal P...

High Court

High Court of Karnataka Examines Validity of Notification Imposing Forest Development Tax under Karnataka Forest Act, 1963 — Multiple Mining Companies Challenge the Levy as Ultra Vires the Constitution and Forest Laws.

3 Dec 2015

The matter involved a batch of writ petitions filed before the High Court of Karnataka by various mining companies, individuals, and an industry assoc...

High Court

Bombay High Court Dismisses Petitions by Non-Signatories Under Section 37 of Arbitration Act. Third Parties Cannot Appeal Interim Arbitral Orders Absent Privity of Arbitration Agreement.

31 Aug 2018

The dispute arose from arbitration proceedings between Excel Metal Processors Pvt. Ltd. (respondent no.1) and Shakti International Private Limited (re...

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