PRAVIN N. NAHAR Vs. NAHAR TEXTILES (P.) LTD.

JUDGEMENT

(1.) BY this order, I propose to deal with the above company application filed by the petitioners thereby seeking following reliefs:

(2.) FEELING aggrieved by the alleged acts of oppression and mismanagement purportedly committed by the respondent Nos. 8 to 12 in the affairs of the respondent No. 1 -company, the petitioners/applicants approached this Bench for redressal of their grievance by way of filing the above stated company petition under section 397/398 read with section 402 of the Companies Act, 1956 ('the Act'). The petitioners have sought various reliefs and interim reliefs as contained in the petition.

(3.) IT is to be noted that the principal grievance amongst the others ventilated by the petitioners/applicants through this petition is that the respondents are attempting to sell the immovable assets of the company for under price for their personal gains and pursuant to the above, they have already agreed to sell a plot at Dahanu and intending to sell the other immovable property(ies) of the company.