J.P. Srivastava & Sons Pvt. Ltd. & Ors vs M/S Gwalior Sugar Co. Ltd. & Ors

The Supreme Court addressed an appeal under Sections 397 and 398 of the Companies Act, focusing on whether the minority shareholders met the one-tenth shareholding requirement under Section 399(1) to initiate proceedings for mismanagement and oppression. The Court held that the petitioners did not hold the requisite shareholding at the time of filing, thereby dismissing their appeal. The judgment clarified the interpretation of shareholding requirements in the context of corporate governance disputes.