S.BALASUBRAMANIAN
B. C. Baroowa – Appellant
Versus
C. C. Baroowa – Respondent
1. M/S Baroowa Brothers Private Ltd., a family company, is engaged in the business of running a hotel. The petitioner filed this petition alleging oppression and mismanagement in the affairs of the company. Considering the fact that the company is a family company, in the hearing held on 28.7.2008, I had advised the counsel to impress upon their clients to resolve the disputes amicably and accordingly both the sides evinced interest in settling the disputes amicable by which the respondents 1 to 4 would go out of the company on receipt of fair consideration for their shares. The fair value of each share was determined at Rs. 2472/-. Since the respondents' group collectively held 20454 shares, the total consideration was determined at Rs. 5.05 crores. However, since the petitioner was not in a position to pay the entire consideration in one go but required time to pay the said consideration, disputes arose in regard to the management of the company during the intergennum period. With my intervention and advise, parties have resolved this dispute also. The parties have finally consented to the following terms of settlement which shall be binding on all the parties.
(1)The petitio
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