https://www.taxtmi.com/caselaws?id=99319 The court found the allotment of 450 equity shares to opposite parties Nos. 4, 5, and 6 invalid as it did not comply with the Articles of Association. The court directed the company to reissue the shares in accordance with the Articles, rectify the share register, and awarded costs to the petitioner. The application under Section 155 of the Companies Act was deemed maintainable, dismissing objections raised by the opposite parties. The court also ruled in favor of the petitioner regarding the alleged defect of parties and the invalidity of the board meeting where the shares were allotted. en-us Fri, 18 Jul 1975 00:00:00 +0530 Wed, 25 Jan 2012 18:36:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99319 The court found the allotment of 450 equity shares to opposite parties Nos. 4, 5, and 6 invalid as it did not comply with the Articles of Association. The court directed the company to reissue the shares in accordance with the Articles, rectify the share register, and awarded costs to the petitioner. The application under Section 155 of the Companies Act was deemed maintainable, dismissing objections raised by the opposite parties. The court also ruled in favor of the petitioner regarding the alleged defect of parties and the invalidity of the board meeting where the shares were allotted. Case-Laws Companies Law Fri, 18 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99319