M/S J.P.SRIVASTAVA &SONS(RAMPUR)P.L&ORS vs H.K. SRIVASTAVA (D) TH. LRS. .

The Supreme Court addressed appeals against a Madhya Pradesh High Court judgment concerning mismanagement allegations under Sections 397 and 398 of the Companies Act. The Court held that the petitioners must demonstrate a minimum shareholding of 10% as per Section 399 of the Act to maintain their petition. The Court emphasized the importance of amicable resolution in family disputes involving company management, ultimately upholding the need for compliance with statutory requirements for filing such petitions.