CL: Decision of CLB or Court would not suffer from a fatal flaw just because formal procedure pertaining to amendment of pleadings is not adhered to in that case

CL: Decision of CLB or Court would not suffer from a fatal flaw just because formal procedure pertaining to amendment of pleadings is not adhered to in that case

CL : If a proposal is made to undertake something which would be per se illegal under statute, then initiating very proposal itself could constitute mismanagement and oppression, and justify 'shareholders' action,
whether in form of an application under section 397/398 or an independent suit

CL : Alteration in object clause can be effected by a special resolution only for purposes specified in sub-clauses (a) to (g) of section 17(1)

CL : Investment of idle funds of a company in financial instruments, by itself, would not be illegal and constitute mismanagement and oppression

CL : It would be within inherent jurisdiction of CLB to take assistance of specialized agencies where having regard to nature of information required, it may lack specific expertise or infrastructural support


[2013] 36 taxmann.com 58 (Calcutta)
HIGH COURT OF CALCUTTA
Birla Corporation Ltd.
v.
Birla Education Trust