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2015 (4) TMI 1183 - Board - Companies LawOppression and mismanagement - Held that:- Both the groups cannot jointly participate in the management of the Company. It is further evident that the two groups of shareholders, lack confidence and mutual trust in each other. It is also clear that the two groups cannot run the management of the Company together and the Company cannot function smoothly by these two rival groups, if they continue to hold shares. It would be, therefore, in the fitness of things and just and proper that the Respondent Nos. 1 and 4 who are admittedly majority shareholders and in control of the affairs of the Company be directed to buyout the shares held by the Petitioners in the Company at a fair price to be determined by an Independent Valuer. This point is answered accordingly.
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