Tata Sons V Cyrus Mistry -Live Updates From Supreme Court(Day 5)

CJI: Does bad management or bad decision making result in oppression and mismanagement? Why can't you have good decisions? 

Sundaram now refers to Scottish Meyer case to answer the question. "It is not essential for application of provisions of laws with regards to suffering of oppressor." he reads

"Our question should have been specific. How are you exclusively losing money? Only you are losing money. " CJI remarked.

CJI: Tell us how you as a former chairman and a shareholder have your role been depleted?

Sundaram: Even if i am a minority shareholders, I need to have a say in the affairs due to such partnership 

Sundaram while referring to judgment in Sangram Singh "Quasi partnership cannot be liberally invoked in any manner."

"A pre existing partnership is not a prerequisite of quasi partnership." Sundaram while referring to a latest judgment of 2020 substantiating his argument.

Sundaram now highlights the importance of quasi partnership. "It's a partnership that operates on relationship involving mutual confidence. It can be discern even after the lapse of partnership. This may be done after the formation or continuation of company" he says. 

"Patria Protesta is a dangerous doctrine in recent times" CJI said

"Everyday you people make speeches that all your companies are families and say all kind of things about pater familias." CJI remarked in a lighter vein.