Urja Niyojan Deadlock: NCLT Orders 50% Shareholder Exit at Nil Value

Madhav Shridhar Dandavate Vs Urja Niyojan Pvt. Ltd. & Ors (NCLT Mumbai) The company petition was filed under Sections 241, 242 and 244 of the Companies Act, 2013 by a promoter, director and 50% shareholder of Urja Niyojan Private Limited alleging oppression and mismanagement by the other 50% shareholder and director, along with her husband. The petitioner sought various reliefs, including transfer of the respondent’s shareholding, removal of the respondent as director, and directions for management of the company’s affairs. The company had an issued and paid-up share capital of...