KAVUKALATHIL GOPALAN Vs. JANATHA TILE WORKS LTD

JUDGEMENT

(1.) THE petitioners collectively holding in excess of 10 per cent. of the issued and paid-up capital of M/s. Janatha Tile Works Ltd. ("the company"), aggrieved on account of certain acts of oppression and mismanagement in the affairs of the company, have invoked the jurisdiction of Sections 397 and 398 of the Companies Act, 1956 ("the Act"), seeking the following reliefs:

(2.) Mr. A.R. Ramanathan, learned counsel, while initiating his arguments in support of the petitioners, submitted as under:

(3.) I have considered the pleadings and arguments advanced for the parties. The main grievances of the petitioners in the affairs of the company on account of the respondents are relating to non-payment of statutory dues, improper conduct of the annual general meetings, illegal election of directors and illegal exclusion of petitioners Nos. 1 to 3 from the office of director. Before proceeding further, I deem it fit to deal with the scope of the provisions of Sections 397 and 398 vis-a-vis the charges of the petitioners levelled against the respondents.