DANKHA DEVI AGARWAL(DEAD)THROUGH LRS. vs TARA PROP.PVT.LTD., CALCUTTA .

The Supreme Court addressed the dispute regarding the shareholding and management of Tara Properties Pvt. Ltd., emphasizing the need for transparency and accountability among directors under the Companies Act. The Court held that the failure of Bhagirath Agarwal to produce company records constituted a breach of fiduciary duty, thereby justifying the intervention of the other directors. The judgment reinforced the principle that directors must act in the best interests of the company and its shareholders, ensuring compliance with statutory obligations under the Companies Act, 1956.