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2017 (11) TMI 1237 - AT - Companies LawOppression and mismanagement - Tribunal directed the Appellant company to sell its shares to the 3rd party ‘Libra' - Held that:- Tribunal has no jurisdiction to direct sale of shares to an outsider particularly while there are other shareholders, who may agree to purchase the same, a wrong doer also cannot get any relief. For the reason aforesaid, we set aside the last para of the order dated 7th April 2017 and as quoted at paragraph 3 above and affirm the rest part of the finding, whereby ‘oppression and mismanagement’ as alleged by the Appellant has been upheld.
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