Mehul Narayan Thakkar Vs Rukshmani Syntex Private Limited (NCLAT Delhi)
Summary: The National Company Law Appellate Tribunal, Principal Bench, New Delhi, disposed of Company Appeal (AT) No. 110 of 2026 arising from proceedings before the NCLT, Mumbai Bench, Court-II concerning allegations of oppression and mismanagement in Rukshmani Syntex Private Limited. The judgment was pronounced on 18.08.2026.
The appellant had invoked Sections 241, 242 and 246 of the Companies Act, 2013 by filing a company petition before the NCLT on 23.02.2026. The dispute was described as an inter se family dispute. The appellant was a shareholder holding 45,993 fully paid-up equity shares of Rs.100 each, constituting 37.09% of the issued and paid-up share capital of Rukshmani Syntex Private Limited. The company was engaged in weaving yarns into fabric from its operational factory at Silvassa.
The petition alleged, among other matters, irregular appointment of the appellant’s father to the Board, exclusion of the appellant from decision-making, seizure of financial and banking control, refusal of inspection of company records, withdrawal of essential facilities, obstruction of functioning at the factory, removal from whole-time directorship and termination of employment. Allegations of mismanagement included extraction of money from the company, sale and disposal of company assets, mismanagement of production and oppressional planning.
