Application sought restoration of company petition CP/15(KB)2022 alleging shareholding oppression in Alliance Broadband Services.
Petitioner claimed combined 54.34% stake was diluted to 43.75% via rights issues, constituting mismanagement and oppression.
Tribunal dismissed application as original petition was not maintainable due to lack of shareholding waiver under Section 244.
Petition was earlier dismissed for non-prosecution after petitioner's repeated non-appearance in multiple hearings.