https://www.taxtmi.com/caselaws?id=96891 Under section 153B of the Indian Companies Act, 1913, compulsory acquisition of dissenting shares is supported once the statutory majority has accepted the offer, unless dissentients show grounds for court intervention. The burden lies on the dissenting shareholders to displace the presumption that the majority acted reasonably. Judicial interference is warranted only where there is misrepresentation, unfair dealing, conflicting interests, or a materially wrong valuation basis. Mere criticism of valuation is insufficient unless it shows that the offer was substantially undervalued. On the facts discussed, the shareholders failed to prove unfairness or unreasonableness, so the majority-approved offer was upheld. en-us Tue, 30 Mar 1943 00:00:00 +0630 Wed, 11 Jan 2012 18:27:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96891 Under section 153B of the Indian Companies Act, 1913, compulsory acquisition of dissenting shares is supported once the statutory majority has accepted the offer, unless dissentients show grounds for court intervention. The burden lies on the dissenting shareholders to displace the presumption that the majority acted reasonably. Judicial interference is warranted only where there is misrepresentation, unfair dealing, conflicting interests, or a materially wrong valuation basis. Mere criticism of valuation is insufficient unless it shows that the offer was substantially undervalued. On the facts discussed, the shareholders failed to prove unfairness or unreasonableness, so the majority-approved offer was upheld. Case-Laws Companies Law Tue, 30 Mar 1943 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=96891