Company Law – HC dismisses Petition filed under section 397 and 398 of the Companies Act 1956 as Cause of action no longer survives

NISCHINTAPUR TEA CO. LTD Versus SUBRATA SEN & ORS ( Calcutta High Court) –  An application under Section 397 and 398 of the Companies Act, 1956 (hereinafter ‘the Act’) was filed in this court way back in 1985. It was numbered as C.P. No. 252 of 1985. It is still pending. The petitioner in that application was one Amita Sen, who has since died. In her place, her three sons Subrata, Ranjan and Sanjay are now substituted as petitioners being petitioner nos. 1.(a), (b) and (c).Two applications were heard by me for several days. They were most seriously contested. One of them (C.A. N...