GIRDHAR GOPAL GUPTA vs AAR GEE BOARD MILLS PVT.LTD. .

The Supreme Court addressed the appeal against the Delhi High Court's dismissal of the Gupta Group's challenge to the Company Law Board's order regarding alleged oppression and mismanagement under Sections 397 and 398 of the Companies Act, 1956. The Court held that the illegal allotment of shares to the Garg Group was a significant act of oppression, thereby affirming the Company Law Board's decision to set aside the allotment of 5564 shares. The appeal was allowed, and the High Court's order was set aside, reinstating the findings of the Company Law Board.