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	<title>TaxGuru &#187; corporate disputes</title>
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		<title>Petition under Section 397/398 of Companies Act, 1956 – Importance of Prayer – a Case Study</title>
		<link>http://taxguru.in/company-law/petition-under-section-397398-of-companies-act-1956-%e2%80%93-importance-of-prayer-%e2%80%93-a-case-study.html</link>
		<comments>http://taxguru.in/company-law/petition-under-section-397398-of-companies-act-1956-%e2%80%93-importance-of-prayer-%e2%80%93-a-case-study.html#comments</comments>
		<pubDate>Fri, 14 Jan 2011 05:01:29 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[company law board]]></category>
		<category><![CDATA[corporate disputes]]></category>
		<category><![CDATA[indian company law]]></category>
		<category><![CDATA[indian corporate law]]></category>
		<category><![CDATA[minority rights]]></category>
		<category><![CDATA[Oppression and Mismanagement]]></category>
		<category><![CDATA[section 397/398]]></category>

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		<description><![CDATA[Every one knows the object of section 397/398 of the Companies Act, 1956 and it is to bring an end to the matters complained of and to regulate the affairs of the Company in future. A great responsibility is cast on the Company Law Board under section 397/398 of the Companies Act, 1956 and it is not only an adjudication of dispute between two shareholding groups, but, it is to find ways as to how to put an end to the matters complained of and as to how to regulate the affairs of the Company. ]]></description>
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		<title>Right of third parties in a proceeding under section 397/398 of Companies Act, 1956?</title>
		<link>http://taxguru.in/company-law/right-of-third-parties-in-a-proceeding-under-section-397398-of-companies-act-1956.html</link>
		<comments>http://taxguru.in/company-law/right-of-third-parties-in-a-proceeding-under-section-397398-of-companies-act-1956.html#comments</comments>
		<pubDate>Thu, 28 Oct 2010 08:27:05 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[Civil Procedure Code]]></category>
		<category><![CDATA[company law board]]></category>
		<category><![CDATA[corporate disputes]]></category>
		<category><![CDATA[indian comapny law]]></category>
		<category><![CDATA[oppression/mismanagement]]></category>

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		<description><![CDATA[I had to concentrate on an interesting legal issue in the recent past on section 397/398 of the Companies Act, 1956. Though, section 397/398 of the Companies Act, 1956 is basically meant to protect the rights of the minority shareholders in the Company against the oppression and mismanagement by the majority, the rights of the third parties can not be ignored.  The Company Law Board can pass any order under section 397/398 of the Companies Act, 1956 and under section 402 of the Act in order to put an end to the matters complained of or in order to regulate the affairs of the Company. ]]></description>
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		<title>Issue of public interest under section 397/398 of Companies Act, 1956?</title>
		<link>http://taxguru.in/company-law/issue-of-public-interest-under-section-397398-of-companies-act-1956.html</link>
		<comments>http://taxguru.in/company-law/issue-of-public-interest-under-section-397398-of-companies-act-1956.html#comments</comments>
		<pubDate>Tue, 26 Oct 2010 04:34:10 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[Civil Procedure Code]]></category>
		<category><![CDATA[company law board]]></category>
		<category><![CDATA[corporate disputes]]></category>
		<category><![CDATA[indian comapny law]]></category>
		<category><![CDATA[oppression/mismanagement]]></category>

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		<description><![CDATA[It is known that resolving the disputes between or among the shareholders in a closely held company is very difficult in the absence of any settlement between or among the parties. Now a day, based on the practice of entertaining petitions under section 397/398 of the Companies Act, 1956 without looking into sheer technicalities, a shareholder/s who is qualified to approach Company Law Board under section 399 of the Companies Act, 1956 and who has a grievance with the other shareholders prefers to file a Petition under section 397/398 of the Companies Act, 1956. It is known that as adjudicating a company dispute requires specialization and also a traditional Civil Court may not speedily dispose a Company dispute and may not go beyond the brief. In view of the difficulties in approaching the traditional Civil Court though a Civil Court can be approached at times in respect of the grievances in the Company, many prefer to approach the Company Law Board.]]></description>
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		<title>Claim of minority to buy the shares of majority in a proceeding under section 397/398 of Companies Act, 1956?</title>
		<link>http://taxguru.in/company-law/claim-of-minority-to-buy-the-shares-of-majority-in-a-proceeding-under-section-397398-of-companies-act-1956.html</link>
		<comments>http://taxguru.in/company-law/claim-of-minority-to-buy-the-shares-of-majority-in-a-proceeding-under-section-397398-of-companies-act-1956.html#comments</comments>
		<pubDate>Mon, 25 Oct 2010 14:07:05 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[Civil Procedure Code]]></category>
		<category><![CDATA[company law board]]></category>
		<category><![CDATA[corporate disputes]]></category>
		<category><![CDATA[indian comapny law]]></category>
		<category><![CDATA[oppression/mismanagement]]></category>

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		<description><![CDATA[Settling or putting an end to the disputes among shareholders by the Company Law Board under section 397/398 of the Companies Act, 1956 is a complicated job. When where exist serious difference of opinion among the minority and majority shareholders in a Private Limited Company, it would really be difficult for the Company Law Board to put an end to the matters complained of or to regularize the affairs of the Company.]]></description>
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		<title>Civil Procedure Code and a proceeding under section 397/398 of Companies Act, 1956?</title>
		<link>http://taxguru.in/company-law/civil-procedure-code-and-a-proceeding-under-section-397398-of-companies-act-1956.html</link>
		<comments>http://taxguru.in/company-law/civil-procedure-code-and-a-proceeding-under-section-397398-of-companies-act-1956.html#comments</comments>
		<pubDate>Tue, 05 Oct 2010 09:19:18 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[Civil Procedure Code]]></category>
		<category><![CDATA[company law board]]></category>
		<category><![CDATA[corporate disputes]]></category>
		<category><![CDATA[indian comapny law]]></category>
		<category><![CDATA[oppression/mismanagement]]></category>

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		<description><![CDATA[I have read few judgments on a proceeding under section 397/398 of Companies Act, 1956 placing reliance on Company Law Board regulations and based on the procedural technicality.  With great respect to the courts, I do strongly feel that the Company Law Board should not go technically in a proceeding under section 397/398 of the Companies Act, 1956.]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Govt will no reinvestigations matters handled by arrested CLB member R Vasudevan</title>
		<link>http://taxguru.in/company-law/govt-will-no-reinvestigations-matters-handled-by-arrested-clb-member-r-vasudevan.html</link>
		<comments>http://taxguru.in/company-law/govt-will-no-reinvestigations-matters-handled-by-arrested-clb-member-r-vasudevan.html#comments</comments>
		<pubDate>Thu, 26 Nov 2009 02:24:35 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Company Law]]></category>
		<category><![CDATA[Bribe]]></category>
		<category><![CDATA[CBI]]></category>
		<category><![CDATA[company secretary]]></category>
		<category><![CDATA[corporate affairs]]></category>
		<category><![CDATA[corporate disputes]]></category>
		<category><![CDATA[khurshid]]></category>
		<category><![CDATA[kolkata]]></category>
		<category><![CDATA[mumbai delhi]]></category>
		<category><![CDATA[profile cases]]></category>
		<category><![CDATA[regional director]]></category>
		<category><![CDATA[Registrar of Companies]]></category>
		<category><![CDATA[salman]]></category>
		<category><![CDATA[Satyam]]></category>
		<category><![CDATA[sesa goa]]></category>
		<category><![CDATA[staff clb]]></category>
		<category><![CDATA[vasudevan]]></category>

		<guid isPermaLink="false">http://www.taxguru.in/?p=15484</guid>
		<description><![CDATA[Vasudevan, who was director investigation and inspection ministry of corporate affairs before joining the CLB three months ago, was looking into high profile cases like the Satyam and the Sesa Goa fraud.
"No we don't need to relook, it is the SFIO that has done the investigation, in the beginning it was done at the level of Regional Director and Registrar of Companies and then it was taken over by the SFIO, so I don't think we need to worry at all...," Corporate Affairs Minister Salman Khurshid said.]]></description>
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