Authority: National Company Law Tribunal (NCLT) Allahabad Bench, Prayagraj
Order Date: 11th June, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench heard matters related to EP No.424/ALD/2018 and Cont. A. No.10/2023 in CP No.14/1999. The case involves Raj Kumar Gupta & Ors (Petitioners) versus Banaras Beads Limited and Others (Respondents). The proceedings are under Sections 397/398 of the Companies Act, 1956, which pertain to oppression and mismanagement of minority shareholders.
During the hearing, Sh. Rajesh Khaware along with Sh. Man Mohan appeared as counsel for the petitioners. For respondent number 1 (Banaras Beads Limited), Sh. R.P. Agarwal (Senior Advocate) assisted by Sh. Abhishek Tripathi appeared.
The bench consisted of Sh. Praveen Gupta (Hon'ble Member - Judicial) and Sh. Ashish Verma (Hon'ble Member - Technical).
Final Outcome
At the request of the learned counsel representing the petitioner, the tribunal adjourned the matter. The next hearing is scheduled for 6th August, 2026 at 12:30 PM. No substantive decisions or rulings were made in this order, which solely addresses the adjournment of proceedings.
Topics: Minority Shareholder Oppression, Corporate Governance, Legal Proceedings