Bikki Raveendra Babu, Member - (1.) Parties in this Petition are referred to as they are arrayed in the Petition as Original Petitioner and Original Respondents.
(2.) Original Respondent No. 1 and second and third Applicant filed this Application questioning the maintainability of the T.P. 108/2016 on the ground that the Original Petitioner is not having one-tenth of the issued share capital of the Original First Respondent Company and on the grounds that the reliefs prayed cannot be granted in a Petition filed under sections 397-398 of the Companies Act, 1956.
(3.) The main Petition is filed under Section 397-398 alleging oppression and mismanagement by Respondents 2 and 3 in the affairs of the first Respondent Company, which is prejudicial to the interest of the Company and to the Original Petitioner as shareholder.;