M.S.D.C. RADHARAMANAN vs M.S.D.CHANDRASEKARA RAJA

The Supreme Court addressed a dispute under Sections 397 and 398 of the Companies Act, 1956, concerning allegations of oppression within a family-run company. The Court upheld the High Court's decision that a deadlock existed in the company's affairs, necessitating the purchase of shares between the parties. The Court affirmed the Company Law Board's authority to determine share valuation and directed that the shares must be purchased within specified timelines, reinforcing the need for resolution in corporate governance disputes.