1996 (10) TMI 347 - SUPREME COURT

Oppression and mismanagement - Held that:- Appeal dismissed. Perusing the report filed by the Registrar of Companies which shows that no substance was, ultimately, found therein. We agree with the Division Bench that this was no case for winding up the company and must dismiss the appeal filed by Mehra.

Insofar as Dubey's appeal is concerned Division Bench found that Dubey had appropriated to himself moneys belonging to the company. Mehra's presence on the Board would prevent a recurrence, thus protecting Mehra's interest and that of the company. We, therefore, find no substance in Dubey's appeal.