the legal issue involved: when can NCLAT grant exemption or waive off under section 244 of companies act 2013 decision: exemption can be granted only in exceptional cases where it is impossible for remaining shareholders to file for oppression and mismanagement i.e, where all of them combine holds less than 10% of issued capital section 244 of companies act also allows the application for oppression and mismanagement by 1/10th of total members which is applicable in all cases. So how can a situation arise where it will be practically impossible for remaining shareholder to make an application.

The Tribunal may grant waiver, if in its opinion, it is just and equitable. The situation will be different in case to case basis. Please search if there are more cases like this.

Answer given by Shubhamm Sir at 06-Feb-2023 05:53 PM