Girdhar Gopal Gupta & Ors vs Aar Gee Board Mills Pvt.Ltd. & Ors

The Supreme Court upheld the decision of the Delhi High Court, which dismissed the appeal of the Gupta Group as not maintainable. The Court emphasized that the allotment of shares by the Garg Group was illegal under Sections 397 and 398 of the Companies Act, 1956, which address oppression and mismanagement in companies. The Court affirmed the Company Law Board's finding that the shareholding pattern was altered unlawfully, thus protecting minority shareholders' rights.