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2020 (9) TMI 847 - Tri - Companies LawOppression and mismanagement - sections 213 and 241 of the Companies Act, 2013 - petitioners contended that the second respondent and his family members are in the helm of affairs of the company and they mismanage the affairs of the company and also oppressed the other stake holders since incorporation - HELD THAT:- It is a fact admitted that the respondent-company was incorporated under the provisions of section 25 of the Companies Act, 1956 and it is carrying on with several religious and charitable operations - It could be seen from the pleadings that the petitioners have made allegations such as oppression and mismanagement and fraudulent conduct of company business, misappropriation of ₹ 80 lakhs, embezzlement of ₹ 4 to 5 crores in Tsunami Relief Fund embezzlement of ₹ 4 crores by sale of property at Jubilee Hills diversion of donations of US $400,000 meant for Dalit Education Centres in India through hawala which is contrary to the FERA/FEMA and public trust acts/laws, diversion of embezzled funds into private investments in the name of the members of family, and charging exorbitant fees and accumulating funds in fixed deposits and the same allegations could be seen in the complaint dated September 29, 2016, sub-mitted by the first petitioner on which the FIR No. 22 of 2016 was came to be registered. It is a fact that the petitioners herein are the members of the company and since they satisfy the threshold limit of qualification for filing a petition under sections 213 and 241 of the Act, have filed the present petition. However, whereas the law requires them to show good reasons for seeking investigation "supported by such evidence as may be necessary", they have relied only on the complaint filed in FIR No. 22 of 2016 which is already pending before the police authorities for investigation. At the time of filing the instant petition the petitioners have not filed any documents in support of their case and allegation/averments made in the company petition. Learned counsel for the respondents rightly pointed out that the petitioners have not filed any documents in support of invoking the provisions of sections 213 and 241 of the Act, 2013. In view of the already pending investigation in the affairs of the company and against other respondents by the investigation agencies, we are not inclined to pass any orders on the merits of the instant petition and accordingly the petition is dismissed.
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