In Brief
Usha Ananthasubramanian challenged orders passed by the NCLT and NCLAT under Sections 241, 337 and 339 of the Companies Act, 1956. The Supreme Court held that the Central Government's powers to address oppression and mismanagement are confined to affairs of the company under investigation. These provisions cannot be used to attach assets of persons who are heads of other organizations or unrelated to the mismanaged company's business. The Court set aside the orders and allowed the appeal, clarifying the jurisdictional limits of these anti-oppression provisions."
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