ARUNA OSWAL vs PANKAJ OSWAL

The Supreme Court upheld the NCLAT's decision affirming the NCLT's order regarding the maintainability of applications under Sections 241 and 242 of the Companies Act, 2013. The Court emphasized that a petitioner must have a minimum shareholding to maintain a petition for oppression and mismanagement, and in this case, the respondent's shareholding of 0.03% was insufficient. The Court ruled that the nomination made by the deceased under Section 72 of the Act in favor of his wife was valid and superseded any prior claims, thus dismissing the appeal.