Satyanarayan Gupta Vs Shivangan Realestate PVT. LTD (NCLT Jaipur)
The petition was filed under Sections 59, 89, 241, 242 read with Section 244 of the Companies Act, 2013, alleging oppression and mismanagement in the affairs of the respondent company by its directors. After considering the pleadings and circumstances, the Tribunal found that no case of oppression or mismanagement was made out. It held that the statutory provisions relied upon did not support the petitioner’s claims. Consequently, the petition was dismissed at the threshold and disposed of in limine by the National Company Law Tribunal, Jaipur Bench.
FULL TEXT OF THE NCLT JUDGMENT/ORDER
1. The present Petition bearing CP No. 16/241-242/JPR/2025 has been preferred by Mr. Satyanarayan Gupta (Petitioner’) under Sections 59, 89, 241, 242 read with Section 244 of the Companies Act, 2013 and read with Rule 70(1)(5)(B) of National Company Law Tribunal Rules, 2016 alleging acts of oppression and mismanagement in the affairs of M/s Shivangan Realestate Private Limited (`Respondent No. 1′ / “Respondent Company’) by its directors namely, Raja Ram Maheshwari (`Respondent No. 2′) and upon the holder of such shares and not the company, and the section itself provides for consequences if someone fails to make the declaration.
