NCLT should enforce valid Family Settlement Agreement for resolving family company disputes

C. Valli Narayan Vs C. Krishniah Chetty & Sons Private Limited (NCLAT Delhi) NCLAT Delhi held that NCLT erred by not enforcing valid Family Settlement Agreement since such agreement is binding and enforceable for resolving family company disputes which involves oppression and management. Facts- The Appellant A1 claims to be an 80-year-old oppressed member, shareholder and a non-whole-time Director of the R-1 Company (which has historically been a family run business. Since its inception, the R-1 Company has been managed like a quasi-partnership.R-1 acquired the assets and liabilities of a ...