Oppressions and mismanagement

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Trainee
39 Points Posted on 29 May 2013

Hello All!

Please tell me whether majority can file a suit against minority for opressions and mismanagement? I read it to be true in Ramaiya in explanations given under section 397. If yes, please tell me if any comditions/ requirements to be met by the Majority shareholders?

 

Thanks and Regards!!

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On 29 May 2013 at 15:04 Report
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student
132 Points Posted on 29 May 2013
Yes.. Its held in many cases that majority can file for relief under section 397. Sec 399 says about the minimum number of persons to file the petition. There is no maximum limit implied. There is no additional other than those relevant to prove the existence of oppression.
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On 29 May 2013 at 15:15
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Trainee
39 Points Posted on 29 May 2013

Thanks! You mean no extra conditions they require to fulfil?

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On 29 May 2013 at 15:18

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