https://www.taxtmi.com/caselaws?id=97583 The court held that the variation of the rights of ordinary shareholders was validly effected by the agreement dated 12th April 1957, ratified by the requisite shareholders. The resolution passed on 18th May 1957 was not necessary for the variation but to alter the memorandum. The petitioners' failure to challenge the agreement rendered their petition unsustainable. The court dismissed the application with costs, certifying the order for counsel and staying its operation for one month. en-us Wed, 29 Jan 1958 00:00:00 +0530 Tue, 17 Jan 2012 13:05:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97583 The court held that the variation of the rights of ordinary shareholders was validly effected by the agreement dated 12th April 1957, ratified by the requisite shareholders. The resolution passed on 18th May 1957 was not necessary for the variation but to alter the memorandum. The petitioners' failure to challenge the agreement rendered their petition unsustainable. The court dismissed the application with costs, certifying the order for counsel and staying its operation for one month. Case-Laws Companies Law Wed, 29 Jan 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97583