Oppression of minorities, Business Law and Ethics


                   7.3.1 Section 211 of the Act provides that any member of a company who complains that the affairs of the company are being conducted in a manner oppressive to some part of the members, including himself, may make an order under the section. The court is empowered to make such order as it thinks fit with a view to bringing to an end the matters complained of if, on any such petition, it is of the opinion that:

                   (a) the company's affairs are being conducted as alleged by the applicant, and

                   (b) as to wind up the company would unjustly prejudice the applicants but the proved facts would have justified the company's winding up on the "just and equitable" grounds.

Posted Date: 1/15/2013 2:51:18 AM | Location : United States

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