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Oppression Established on Share Register Manipulation & Financial Mismanagement: NCLT Mumbai
Case Law Details
- Case Name
- Yogesh Patel Vs Arzoo.com (India) Private Limited & Ors. (NCLT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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Yogesh Patel Vs Arzoo.com (India) Private Limited & Ors. (NCLT Mumbai)
The NCLT Mumbai partly allowed a company petition alleging oppression and mismanagement in the affairs of a private company. The petition raised allegations relating to dilution of shareholding, fraudulent transfer of shares, irregularities concerning another shareholder’s shares, financial transactions with a third-party entity, and non-compliance with the Companies Act. During the proceedings, a Special Purpose Audit was conducted, which reported discrepancies and non-cooperation in the production of records.
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