LAWS(CL)-2013-12-6

MEHOOL BHUVA Vs. INDO-NIPPON CHEMICAL CO. LTD.

Decided On December 13, 2013
Mehool Bhuva Appellant
V/S
Indo -Nippon Chemical Co. Ltd. Respondents

JUDGEMENT

(1.) THE above captioned company petition has been filed by the petitioner invoking the provisions contained in sections 397 and 398 of the Companies Act, 1956 ('the Act') alleging therein certain acts of oppression and mismanagement in the affairs of R1 -company purportedly committed by the R2 to R16. The petitioner has sought various reliefs as contained in the petition which are as follow :

(2.) RESPONDENT No. 1 appeared and filed its reply. The R1 -company has stated that the petitioner has wrongfully sought to approach this Board based on 25per cent of his shareholding in R2 which in turn holds 44per cent on R1 -company. It is further stated that the share of Mr. Bhuva has been transferred to the name of the petitioner.

(3.) THE petitioner has filed rejoinder to the reply reiterating the pleas taken in the original petition.