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2012 (9) TMI 422 - HC - Companies LawGrievance of oppression and mismanagement u/s 397 and 398 - application for withdrawal of the proceedings - Held that:- That a proceeding under Section 397 could not be equated with a civil suit where the learned Judge could not have any say if a plaintiff wants to withdraw his suit and a proceeding under Section 397 could not be withdrawn and/or dismissed merely at the whims of the parties. The resistance to allow withdrawal and/or dismissal must come from someone who had authority to resist the same. A non-party can only resist dismissal or withdrawal if he is able to show that continuance of the said proceeding would benefit him. In the instant case, Amita brought the action making allegation against the then management. After her death her sons sold off their shares. They categorically asserted before us that they were no more shareholders of the company - Status of Ajit is yet to be decided either in the proceeding under Section 111A or in his suit, thus in absence of such decision his prayer for substitution in case of original petitioners, could not be acceded to.
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