Supreme Court · 2004 INSC 515 · Decided 13 September 2004
M/S. Dale and Carrington INVT. P. LTD. and Another v. P.K. Prathapan and Others
- Court
- Supreme Court of India
- Citation
- 2004 INSC 515 · [2004] SUPP. 4 S.C.R. 334
- Case number
- CIVIL APPEAL No. 5915/2002
- Decided
- 13 September 2004
- Bench
- RUMA PAL, ARUN KUMAR (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 81, 397, 398
Headnote
Company law: Company affairs-Duties and power of Directors-Fiduciary capacity within which they have to act- "Proper-purpose doctrine" regarding duties­ Discussed. Private limited company-Act of oppression-Allotment of additional shares in favour of Managing Director resulting in the interest of the D company nor a proper and legal procedure followed-Motive for allotment found malafide, only motive being to gain control of the company-Clear case of oppression against majority shareholder-Hence, the allotment set aside. E F Companies Act, 1956 : Section 81-Private limited
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