https://www.taxtmi.com/caselaws?id=97381 Section 153B permits a transferee company to acquire shares of dissenting shareholders once the requisite majority approves a scheme, and the dissentients bear the burden of showing why the majority's acceptance is wrongful - for example misrepresentation, unfair dealing, conflicted conduct, or a valuation method producing substantially less than fair value; absent such allegations or evidence and where an active market exists with more than a large outside majority approval, courts should defer to shareholder approval. Stock-exchange quotations are prima facie evidence of value and Section 153B contains no court-directed valuation mechanism, so the offered acquisition stood. en-us Mon, 30 Apr 1956 00:00:00 +0530 Mon, 16 Jan 2012 14:20:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97381 Section 153B permits a transferee company to acquire shares of dissenting shareholders once the requisite majority approves a scheme, and the dissentients bear the burden of showing why the majority's acceptance is wrongful - for example misrepresentation, unfair dealing, conflicted conduct, or a valuation method producing substantially less than fair value; absent such allegations or evidence and where an active market exists with more than a large outside majority approval, courts should defer to shareholder approval. Stock-exchange quotations are prima facie evidence of value and Section 153B contains no court-directed valuation mechanism, so the offered acquisition stood. Case-Laws Companies Law Mon, 30 Apr 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97381