Vijai Pratap Singh, Member - (1.) This Company Petition No. 400/2012 has been filed by the petitioners under section 397 and 398 of the Companies Act, 1956 in accordance with section 399 of the Act (hereinafter will be referred to as the Act) regarding oppression and mismanagement against the Respondents.
(2.) Brief facts in the present petition pertains to the Company named Kshirode Chandra Ghosh and Sons Pvt. Ltd. which was incorporated on 28th February, 1962, under the Companies Act, 1956 and limited by shares, with an authorized capital of Rs. 25,00,000/- divided into 25,000 equity shares of Rs. 100/- each, and with paid up capital Rs. 15,74,700 divided into 15,747 equity shares of Rs. 100/- each, against which the Petitioner has sought relief against acts of oppression. The Company among other things carries on business of trading in iron and steel.
(3.) The Petitioner claims to be entitled to 2576 equity shares of Rs. 1007-each in the company, which is equal to 16.36% of the paid up capital of the Company through her father, Late N.C. Ghosh (since deceased) (hereinafter referred to as NCG), of whom the Petitioner was a successor-in-interest NCG held 10,304 equity shares of Rs. 100/- each in the Company, and died intestate on the 25th August, 2007 leaving behind four children, which further entitled his children to 1/4th of his equity shares.;