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Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld.
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Limitation in oppression and mismanagement proceedings barred the challenge to cessation from directorship and dilution of shareholding where the appellant was found to have knowledge of the impugned acts by January 2013, so time ran from that point and a continuing cause of action was rejected on the facts. A new contention based on the Articles of Association and the Companies Act was not entertained because it had not been raised before the adjudicating authority. The direction for valuation by an independent registered valuer was upheld, as the appellant had opportunities to participate, the relevant date was correctly applied, and no basis was shown to reopen the valuation in appeal.
Limitation in oppression and mismanagement proceedings barred the challenge to cessation from directorship and dilution of shareholding where the appellant was found to have knowledge of the impugned acts by January 2013, so time ran from that point and a continuing cause of action was rejected on the facts. A new contention based on the Articles of Association and the Companies Act was not entertained because it had not been raised before the adjudicating authority. The direction for valuation by an independent registered valuer was upheld, as the appellant had opportunities to participate, the relevant date was correctly applied, and no basis was shown to reopen the valuation in appeal.
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