A R LAKSHMI Vs. SRI KRISHNA TILES AND POTTERIES MADRAS PRIVATE LIMITED

JUDGEMENT

(1.) THIS is an application made under Regulation 26(2) of the Company Law Board Regulations. 1991 ("the Regulations") on behalf of the petitioners to the main petition invoking the jurisdiction of Sections 397 & 398 of the Companies Act. 1950 ("the Act") for reliefs against the alleged acts of oppression and mismanagement in the affairs of M/s. Sri Krishna Tiles and Potteries (Madras) Private Limited ("the Company"), to set aside the order dated 22,10.2007. dismissing the main petition for non-prosecution, in support of which, Shri N.V. Srinivasan, learned Counsel submitted:

(2.) Shri V. Rajamani, learned Counsel representing the respondents 1, 4 to 6, vehemently opposed the company application for the following reasons.

(3.) SHRI J. Swaminathan, learned Counsel representing the seventh respondent adopted the arguments advanced on behalf of other respondents.