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2021 (4) TMI 1359 - SC - Companies LawAppointment of Special Officer - petition for oppression and mismanagement has been pending since 2016 - compliance with the mandate of Section 422 of the Companies Act 2013 - alternative submission is the shareholding is held within the members of a family and is closely held, it would be appropriate if mediation is resorted to so that any one or more of the groups of shareholders can buy out the shareholding of others. HELD THAT:- The appellants are permitted to move the NCLT for expeditious hearing having regard to the mandate of Section 422. Any offer which the appellants have for an amicable solution through a mediatory process can be urged before the NCLT when the proceedings are taken up - no observations or findings made thereon and it is left open to the NCLT to take an appropriate view. Appeal dismissed.
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