Non-declaration of dividend & director changes not Oppression & Mismanagement: NCLAT Delhi

Venus Petrochemicals (Bombay) Private Limited Vs Sunil M. Thakkar (NCLAT Delhi) In the case of Venus Petrochemicals (Bombay) Pvt. Ltd. & Ors. Vs. Sunil M. Thakkar & Ors., the National Company Law Appellate Tribunal (NCLAT), New Delhi, was tasked with addressing issues related to alleged oppression and mismanagement within a family-owned company. The case revolved around the non-declaration of dividends and the appointment/removal of directors, with the respondents claiming these actions constituted oppression and mismanagement under Sections 241 and 242 of the Companies Act, 2013. Fact...