https://www.taxtmi.com/caselaws?id=97609 The court upheld the validity of the resolution increasing the company's capital and offering shares to existing shareholders. It found that the resolution was necessary for fleet expansion and compliant with the company's articles of association. The court allowed offering shares to existing shareholders only, not to strangers, under an interim order. The court also determined that selective offers to existing shareholders did not breach the Companies Act provisions for private companies. Additionally, the court dismissed the petition seeking relief under section 397 of the Companies Act for alleged oppression, finding no grounds for winding up the company. en-us Thu, 18 Sep 1958 00:00:00 +0530 Tue, 17 Jan 2012 14:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97609 The court upheld the validity of the resolution increasing the company's capital and offering shares to existing shareholders. It found that the resolution was necessary for fleet expansion and compliant with the company's articles of association. The court allowed offering shares to existing shareholders only, not to strangers, under an interim order. The court also determined that selective offers to existing shareholders did not breach the Companies Act provisions for private companies. Additionally, the court dismissed the petition seeking relief under section 397 of the Companies Act for alleged oppression, finding no grounds for winding up the company. Case-Laws Companies Law Thu, 18 Sep 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97609