Companies Act: NCLAT Grants Section 244(1)(b) Waiver for Oppression & Mismanagement Petition

Somangsu Biswas Vs Calcutta Cricket & Football Club (NCLAT Delhi) NCLAT Delhi held that granting waiver u/s. 244(1)(b) of the Companies Act, 2013 justified in a petition alleging oppression and mismanagement in the Calcutta Cricket & Football Club. Accordingly, appeal dismissed. Facts- The Respondent 1 is a Company incorporated u/s. 8 of the Companies Act, 2013 and does not have any share capital. The Respondents No. 16 to 19 of the present appeal had filed Company Petition u/s. 241 and 242 of the Companies Act, 2013 before NCLT, Kolkata alleging oppression and mismanagement in running...