Petition alleging oppression not maintainable if petitioner doesn’t have requisite qualification shares

COMPANY LAW BOARD, KOLKATA BENCH Kailash Nath Roy versus Bengal Bonded Warehouse Association B.S.V. PRAKASH KUMAR, JUDICIAL MEMBER CP No. 35 of 2012 FEBRUARY  22, 2012 ORDER 1. The petitioners KailashNath Roy, Kaushik Roy, Indira Roy, AlokeNath Roy and Anjali Roy together moved this petition under section 397/398 of the Companies Act, 1956 (‘the Act’) against the respondents on the ground of oppression and mismanagement alleging that the respondents 2 to 5 acting prejudicial to the interest of the petitioners and the company as well. 2. As the petitioners’ ...