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NON-MEMBER OF CO. HAS NO LOCUS TO SEEK PERMISSION ...

NON-MEMBER OF CO. HAS NO LOCUS TO SEEK PERMISSION TO ALLOW HIM TO FILE PLEA U/S 241/242: NATIONAL COMPANY LAW APPELLATE TRIBUNAL A complainant must be a member of the company, as per Section 2 (55) of the Companies Act, 2013, against which a petition is to be filed. Since the appellant was not a shareholder or member of the company against which relief from oppression and mismanagement was sought, he had no "locus, ” and the issue of him alleging oppression does not arise. Therefore, he cannot file a petition under Section 241 of the Companies Act, 2013. With a team of Commercial Law experts, Reddy & Reddy Law Firm has extensive experience and involvement in commercial disputes, including Insolvency Proceedings. We are regularly involved in representations before NCLT, NCLAT, DRT and other commercial tribunals in India.
 2023-03-01T12:45:27

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