https://www.taxtmi.com/caselaws?id=98065 The court found in favor of the petitioners, appointing an administrator to oversee the company's affairs, superseding the existing board of directors. A special auditor was tasked with investigating the company's operations, and an extraordinary general meeting was mandated to elect a new board of directors. The court invalidated the resolutions passed at the disputed extraordinary general meeting, restrained the new share allottees from shareholder rights, and awarded costs to the petitioners. The court intervened under sections 397 and 398 of the Companies Act, 1956, due to the company's mismanagement and the need for corrective measures. en-us Thu, 19 Sep 1963 00:00:00 +0530 Thu, 19 Jan 2012 11:02:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98065 The court found in favor of the petitioners, appointing an administrator to oversee the company's affairs, superseding the existing board of directors. A special auditor was tasked with investigating the company's operations, and an extraordinary general meeting was mandated to elect a new board of directors. The court invalidated the resolutions passed at the disputed extraordinary general meeting, restrained the new share allottees from shareholder rights, and awarded costs to the petitioners. The court intervened under sections 397 and 398 of the Companies Act, 1956, due to the company's mismanagement and the need for corrective measures. Case-Laws Companies Law Thu, 19 Sep 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98065