INCABLE NET (ANDHRA) LIMITED & ORS. versus AP AKSH BROADBAND LTD. & ORS.

INCABLE NET (ANDHRA) LIMITED & ORS. versus AP AKSH BROADBAND LTD. & ORS.

No case of oppression or mismanagement is established; the acts alleged amount, at most, to breach of contract and are outside the ambit of company law provisions. Petitioners were themselves party to key decisions and payments, negating their allegations.

Parties
Petitioner: INCABLE NET (ANDHRA) LIMITED; Respondent: AP AKSH BROADBAND LTD.
Jurisdiction
India
Judgment Date
07 May 2010
Procedural Posture
Special Leave Petition (civil) / Supreme Court Decision on SLP (civil) No. 9110 of 2008
Outcome
Special Leave Petition dismissed
Legal Topics
Oppression and Mismanagement, Joint Venture Disputes, Shareholder Agreements, Company Law Board Proceedings
Company Law Oppression and Mismanagement Joint Venture Disputes Shareholder Agreements Company Law Board Proceedings

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Parties

INCABLE NET (ANDHRA) LIMITED

Petitioner

AP AKSH BROADBAND LTD.

Respondent

Procedural Posture

Special Leave Petition (civil) / Supreme Court Decision on SLP (civil) No. 9110 of 2008

Legal Issues

  1. 1 Whether acts of majority shareholder amounted to oppression and mismanagement under Companies Act, 1956 ss. 397, 398, 402, 403
  2. 2 Whether breach of EPC contract constitutes a complaint under company law provisions or merely breach of contract

Ratio Decidendi

No case of oppression or mismanagement is established; the acts alleged amount, at most, to breach of contract and are outside the ambit of company law provisions. Petitioners were themselves party to key decisions and payments, negating their allegations.

Court Disposition

Special Leave Petition dismissed

Orders

  • No case of oppression or mismanagement made out under Companies Act, 1956 ss. 397, 398, 402, 403
  • Petitioners may proceed for breach of contract under s.73 of Contract Act, 1872