Bikki Raveendra Babu, Member - (1.) This Petition is filed by Mr. Ramachandran Damodaran who is at present holding 10.96% of paid up capital of first respondent company alleging oppression and mismanagement under sections 397 and 398 of the Companies Act, 1956 hereinafter called as "Act".
(2.) First respondent is a private limited company having its registered office at Vadodara, Gujarat State initially promoted by petitioner and one Mr. Nitin Sadashiv Aryamane. The paid up share capital of the first respondent company is 18,25,000/- consisting of 1,82,500 equity shares of Rs. 10/- each.
(3.) The object for which the first respondent company was established as can be seen from the memorandum of Association and Article of Association is to carry out business of design, manufacture, engineering, conversion, reconditioning, repairing, development, testing and proto typing of extra high voltage equipment and other objects as stated in Memorandum of Association.;