Supreme Court of India · 2013-03-12
M/S. P.G.F. Ltd. & Ors vs Union Of India & Anr
- Citation / case number
- AIR 2013 SUPREME COURT 3702
- Court
- Supreme Court of India
- Petitioner
- M/S. P.G.F. Ltd. & Ors
- Respondent
- Union Of India & Anr
- Bench
- B.S. Chauhan, Fakkir Mohamed Ibrahim Kalifulla
Judgment text excerpt
The Supreme Court ruled that the provisions of the Companies Act, specifically Section 397 and Section 398, empower the court to intervene in cases of oppression and mismanagement. The Court emphasized that the objective of these provisions is to ensure that the affairs of the company are conducted in a manner that is fair and equitable to all shareholders. The appeal was allowed, and the matter was remitted for further consideration in light of the principles laid down.