TMI Blog2001 (12) TMI 897X X X X Extracts X X X X X X X X Extracts X X X X ..... an 1. The petitioner holding 1,000 shares out of 4,500 shares in Foreword Advertising and Marketing P. Ltd. ('the company') has filed this petition under section 397/398 of the Companies Act, 1956 ('the Act') alleging acts of oppression and mismanagement in the affairs of the company. According to the petitioner, he was forced to resign from the post of managing director due t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner and as a matter of fact it was the petitioner who addressed the letter to the bank seeking closure of the bank account. As far as non-holding of annual general meeting, finalisation and auditing of accounts for the year 1997-98 are concerned, the respondents submitted that it was due to the conduct of the petitioner himself. Being in-charge of finance and accounts, the petitioner did not keep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... against the petitioner by the company. Accordingly, they have sought for dismissal of the petition with further direction to the petitioner to hand over all the books and records of the company. 3. We heard the authorised representatives appearing for the parties. We do not find any substantive allegation to be considered to be acts of mismanagement in the affairs of the company. If the company ..... X X X X Extracts X X X X X X X X Extracts X X X X
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