https://www.taxtmi.com/caselaws?id=97096 A minority shareholder seeking to restrain a proposed inter-bank arrangement had to show that the transaction was ultra vires, fraudulent, or an abuse of majority power. The Court found the scheme-transferring deposits and liabilities against assets of equivalent value-was within the company's corporate powers, capable of shareholder approval, and not proved on the record to involve fraud, undervalue, or infringement of depositor rights. The balance of convenience also favoured discharge of the ad interim injunction. Separately, the suit was transferred to the High Court for trial because the parties agreed and the circumstances justified transfer. en-us Fri, 09 Mar 1951 00:00:00 +0530 Sat, 14 Jan 2012 10:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97096 A minority shareholder seeking to restrain a proposed inter-bank arrangement had to show that the transaction was ultra vires, fraudulent, or an abuse of majority power. The Court found the scheme-transferring deposits and liabilities against assets of equivalent value-was within the company's corporate powers, capable of shareholder approval, and not proved on the record to involve fraud, undervalue, or infringement of depositor rights. The balance of convenience also favoured discharge of the ad interim injunction. Separately, the suit was transferred to the High Court for trial because the parties agreed and the circumstances justified transfer. Case-Laws Companies Law Fri, 09 Mar 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97096