Asked in Company or corporations
Section 397 in The Companies Act, 1956 397. Application to Company Law Board for relief in cases of oppression. 1. Any members of a company who complain that the affairs of the company are being conducted in a manner prejudicial to public interest or in a manner oppressive to any member or members may apply to the 1 Company Law board for an order under this section, provided such members have a right so to apply in virtue of section 399. 2. If, on any application under sub section 1, the 1 Company Law Board is of opinion a. that the companys affairs 2 are being conducted in a manner prejudicial to public interest or in a manner oppressive to any member or members; and b. that to wind up the company would unfairly prejudice such member or members, but that otherwise the facts would justify the making of a winding up order on the ground that it was just and equitable that the company should be wound up the 1 Company Law Board] may with a view to bringing to an end the matters complained of, make such order as it think fit
As per section 241 Companies Act 2014
Dear Client yes you can move as per companies act for oppression and mismanagement in which state you belongs.
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