Family Business Nightmare: Section 397 of the Companies Act

Ye sabhi ko pata hai na, family business mein koi baat nahi, sirf family members hi karte hain. Lekin doosro ko bhi aapko apna saman kar sakte hain. Main to koi baat nahi, mere family members ko traffic challans se bachaane ke liye mujhe aapki help chahiye. Lekin main to AILET mei preparation kar raha hoon, Company law to nahi seekha hai.

To phir yeh aaya ek case, Shri Ram v. Shri Ram, Aurangabad Mercantile Co-operative Bank Ltd. (2002) 2 SCC 458. Yeh to kuch samajh mein aaya, company ke directors ko apni company ke assets ka misuse nahi karna chahiye.