This is a disclosure about a strange petition/litigation against the company by the promoter family members themselves (including the Chairman and MD, the patriarch, Mahendra Mohan Gupta).
Quoting from the disclosure here "The petition has been filed before the Hon’ble National Company Law Tribunal, Allahabad, on behalf of Mr. Mahendra Mohan Gupta (Chairman and Managing Director, and shareholder) Mr. Shailesh Gupta (Wholetime Director and shareholder) and VRSM Enterprises LLP (shareholder). The petition raises issues concerning oppression of the minority shareholders i.e. the Petitioners, by the majority shareholders i.e. the other members of Gupta Family, both at the JMNIPL and the Company level. The petition does not allege any mismanagement in the affairs of the Company. In addition to the said other shareholders, JMNIPL and the Company have also been impleaded as Respondents.
Thoughts?
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