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2011 (9) TMI 843 - Board - Companies LawAllegation of oppression and mismanagement under section 397/398 of the Companies Act, 1956 - family dispute - held that:- these being family Companies being managed by the brothers in accordance with the family settlement, adherence to which has not been disputed, it is noted that by levelling allegations and counter-allegations by manipulating records by holding meetings without quorum both parties have endeavoured to gain control of the management of the companies and have acted in breach of fiduciary duties. The respondents have been involved in continuous acts of oppression against the petitioners and the present petitions deserve to be allowed in favour of the petitioners. Status quo ante is hereby restored setting aside the appointments of Sandeep Mittal, Nippun Mittal, Sameer Mittal and Naveen Mittal as directors. P-2 continues to be a director on the Board. All statements/statutory forms filed in this regard with the RoC are held to be invalid, all resolutions passed, in Board meetings/AGM/EGM are hereby cancelled.
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