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VIMLA YADAV
Sachin Bansal – Appellant
Versus
Accent Shoes (P. ) Ltd. – Respondent
1. In this order I am considering Company Petition No. 189 of 2007 filed by Sh. Sachin Bansal under Sections 397, 398, 399, 402 & 406 of the Companies Act, 1956 (hereinafter referred to as the Act) against M/s. Accent Shoes Pvt. Ltd. & Ors. alleging oppression and mismanagement.
2. M/s. Accent Shoes Pvt. Ltd. was incorporated on 03.03.2003 as a Private Company under the provisions of the Act. The Registered Office of the Company is situated at 2250/171, Ganeshpura, Trinagar, Delhi- 110003. The authorized capital of the Company was Rs. 20,00,000/- divided into 2,00,000 equity shares of Rs. 10/- each. The issued, subscribed and paid up capital of the Company was Rs. 20,00,000 divided into 2,00,000 equity shares of Rs. 10 each. The Company is engaged in the business of manufacture, sale, purchase, trading, import, export etc. of all kinds of boots, shoes, chappals, sandals etc. made of leather, PVC Rubber, PVC Rexena, etc. The petitioner and R-2 were also First Directors of the R-1 Company.
3. Sh. Vibhu Bakhru, Counsel for the Petitioner contended that on 03.03.2003, the Petitioner & R-2 associated to form the R-1 Company. It-was mutually agreed that the business would be on an equ
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