In background of decided case laws, comment whether the following instances amount to oppression or mismanagement with brief reasoning: (i) Filing of unaudited Balance Sheets (ii) Non holding of the meetings of the Board

(i) Filing of Unaudited Balance Sheets In Chandra Krishan Gupta v. Pannalal Girdhari Lal Pvt. Ltd. , supra, it was held that "Filing of the unaudited balance sheets show misconduct in the managing of the affairs of the company. If this act causes prejudice to the company's interests, it may justify action under Section 398 of the erstwhile Companies Act, 1956 but this by itself cannot be regarded as an ingredient of oppression within the meaning of Sec. 397 of the erstwhile Companies Act, 1956." In light with the above case, it can be said that filing of unaudited balance sheet may amount to oppression or mismanagement. (ii) Non-Holding of Meetings of the Board In Chandra Krishan Gupta v. Pannalal Girdhari Lal Pvt. Ltd. , supra, it was held that "The non-holding of the meetings of the Board would not amount to oppression of minority shareholders. The rights of the petitioner as a director might have been affected but his rights as a minority shareholder have not been affected thereby". In light with the above case, it can be said that non holding of the Board meeting may not amount to oppression or mismanagement.