Vijai Pratap Singh, Member - (1.) This Company Petition No. 16/2009 has been filed by the petitioners under section 397, 398, 402 and 408 read with section 111 of the Companies Act, 1956 (hereinafter will be referred to as the Act) regarding oppression and mismanagement against the Respondents for the acts that led to the removal of the Petitioners from the Company.
(2.) Brief facts as per the present petition are that the company M/s. Medinimata Agro Products Pvt. Ltd. (Company) was incorporated on 10th May, 2006 and its registered office is situated at Paschim Medinipur. The authorized share capital of the company is Rs. 1 Crore divided into 10 Lakh equity shares. Petitioner No. 1 is an engineer by professional and a social activist who had earlier worked for Gujarat Heavy Chemicals Ltd. and started his own business which was a construction firm called M/s. Ideal Constructions in 1999, wherein his brother Petitioner No. 2 was helping him. The Petitioner No. 1 also had another company Purvanchal Agro Products Pvt. Ltd. which was a private company incorporated in 2005.
(3.) Respondent No. 2 is a businessman by profession and is a majority shareholder and director in various privately incorporated companies. Respondent No. 4 is the brother-in-law of the Respondent No. 2 and was a close friend to Petitioner No. 1 for a long time.;