SC Decision on Limitation of Companies Act in case of oppression and mismanagement

Hanuman Prasad Bagri & Ors Vs Bagress Cereals Pvt. Ltd. & Ors  (SC) Sections 397 & 398 of the Companies Act, 1956 [hereinafter referred to as the Act] was filed before the Calcutta High Court on grounds of oppression and mismanagement. The learned Company Judge held that the Petitioners grievance in regard to ouster from the management of the company is legitimate and justified; that respondent No.3 had maneuvered the matters in such a manner to result in the ouster of the Petitioner No.1 from the management of the

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