Tuesday, June 28, 2016

CLB ends family feud by dismissing oppression plea filed by mother against her three daughters


a) The petitioner (mother) alleged acts of oppression and mismanagement in the a airs of the company by her 3 daughters.

b)  The relief was sought on various matters such as: - To declare the illegal board meetings

- Removal of director from the directorship of the Company - To declare all illegal transfers of shares

c)  Disposing the petition the HC directed to constitute an adhoc board with the mother and her three daughters for managing day-to-day a airs of the company and to carry out the statutory obligations under the Act.