Oppression & Mismanagement Petition Rejected Due to Dispute Being Purely Contractual & Arbitrable

Eros International Media Ltd. Vs Colour Yellow Productions Private Limited & Ors. (NCLT Mumbai) The matter before the National Company Law Tribunal (NCLT), Mumbai, arose from a company petition alleging oppression and mismanagement under Sections 241–242 of the Companies Act, 2013. The petitioner, having acquired 50% shareholding in the respondent company under a Term Sheet dated 22 January 2014, alleged that the respondents had breached contractual obligations, mismanaged company affairs, diverted funds, undertaken related party transactions without approval, and excluded the petitioner...