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When can Central Government make a complain to the Tribunal under Section 241

March 30, 2020

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When Private Limited was incurring losses since its incorporation and has not been able to meet the expectation of the shareholders. The shareholders feel that the operations of the company are mismanaged by the authority and have filed a petition under this section. Is the allegation valid?

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MJK Private Limited has two group of shareholders, one foreign shareholders holding 55% and one Indian shareholders holding 45% of the shares of the company. The AOA provides for the terms of mutual understandings of both the groups. Both the groups have equal managerial powers. The relationship between two groups could not last longer and…

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