Manish Mohan Sharma & Ors vs Ram Bahadur Thakur Ltd. & Ors

The Supreme Court upheld the Company Law Board's order under Sections 397 and 398 of the Companies Act, 1956, which facilitated a family settlement between the CBS Group and the MMS Group regarding the management and assets of Ram Bahadur Thakur Ltd. The Court affirmed the legitimacy of the Memorandum of Family Arrangement and Transfer Document, emphasizing the importance of equitable resolution in family-owned businesses. The decision reinforced the authority of the Company Law Board to direct asset transfers and management restructuring in corporate disputes involving familial relationships.