Supreme Court of India

Hasmukhlal Madhavlal Patel and Anr. v. Ambika Food Products Pvt. Ltd. and Ors.

Neutral citation
Bench K. M. Joseph and B. V. Nagarathna JJ.
Decided 15 June 2023

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

From the headnote

Companies Act, 1956 – s. 2(32), 81, 81(1A), 81(3), 397, 398 – Companies Act, 1913 – s. 105- – First respondent is a private limited company having authorised capital of Rs.1 crore – There are three groups i.e. HMP, S and VPP – Appellant nos. 1 and 2 described as the ‘HMP’ Group had 30.80% of the paid up share capital – ‘S’ Group represented by respondent nos. 4 & 5 had 45 per cent share and ‘VPP’ Group represented by respondent nos. 2 & 3 had 24.20 percentage in the paid-up capital – In response to the proposal for a term-loan made by the appellants, Bank advised them to increase Share…

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