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NATIONAL COMPANY LAW TRIBUNAL
SHRI. RAJEEV BHARDWAJ, J, SHRI. SANJAY PURI, T
M/s Big Bang Boom Solutions – Appellant
Versus
M/s Centauri Composites Pvt Ltd – Respondent
| Table of Content |
|---|
| 1. minority shareholder’s claims against majority for oppression. (Para 1 , 2 , 6 , 8 , 12 , 14) |
| 2. majority shareholder's actions deemed reasonable under circumstances. (Para 18 , 19 , 20 , 21 , 26) |
| 3. court's analysis of oppression and mismanagement definitions. (Para 40 , 41 , 42 , 43 , 44) |
| 4. conclusion on the lack of grounds for relief under the companies act. (Para 52 , 53) |
ORDER
I. The Petitioner M/s Big Bang Boom Solutions represented by Mr. Praveen Dwarakanath, Director is minority shareholder in M/s Centuari Composites Pvt Ltd. (hereinafter called as Company/Respondent No.1), by filing the present Petition has sought the intervention of this Authority to prevent oppression and mismanagement in the Company at the behest of its Managing Director and majority shareholder, Mr. Athul Pai (hereinafter called as Respondent No. 2) by citing the following instances:
a) The minority shareholders were kept in the dark as regards substantial decisions of the Company by the Respondent No.2 including but not limited to the return of the grant made to the Company by Innovations for Defence Excellence (IDEX), which is part of the Government of India and which constituted the pr
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