Go AD-FREE with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Oppressions and mismanagement

Others 648 views 2 replies

Urvashi

Trainee

74 Points Joined March 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!!

Replies (2)

Karthik

student

147 Points Joined August 2009

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.