The reference to arbitration is not limited to shareholding but it covers the entire affairs of business of the Company – Mr. Himanshu Shekhar Vs. Manohar Lal Sarraf & Sons Pvt. Ltd. and Ors. – NCLT New Delhi Bench Court-III
In this case, a petition has been filed by the founder, shareholder and promoter director Company under Section 241-242 of the Companies Act, 2013 on the ground of oppression and mismanagement.
NCLT New Delhi Bench Court-III:
(i) observes that the issues raised in the present petition have already been raised in the arbitration proceeding which is prior to the initiation of filing of the present petition.
(ii) finds force in the contention made by Mr. Arun Kathpalia, Ld. Senior Advocate that the reference to arbitration is not limited to shareholding but it covers the entire affairs of business of the Company.
(iii) hold that the present petition filed under Section 241-242 of the Companies Act, 2013 is not maintainable and therefore dismissed.
