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2011 (7) TMI 1011 - HC - Companies Lawoppression and mismanagement - permanent editorial succession plan of retirement for the editorial board members and permanent Corporate Governance Policy for purpose of separating ownership of company from its management – resolution passed in Board meeting - Respondents preferred a company petition under section 397/398, praying for stay of resolution passed by board of directors and to restrain appellants from calling EGM – CLB allowed the company to hold EGM but Company Law Board, stayed implementation of the decision taken in the extraordinary general meeting – Held that:- management of the editorial is changed and that the qualification of respondent No. 2 has not been considered cannot be the subject-matter of the petition under sections 397 and 398 of the Companies Act, 1956 - order passed by the CLB cannot be sustained - dispute regarding to individual rights of respondents which could be subject matter of civil suit but not of petition under sections 397 and 398 - Company Law Board, staying implementation of the decision taken in the extraordinary general meeting is ordered to be set aside
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