https://www.taxtmi.com/caselaws?id=100002 A court should direct an investigation into a company's affairs under section 237(a)(ii) only where the materials disclose a prima facie case showing that a deeper inquiry is necessary in the interests of the company and that the minority has enough basis to justify departure from Foss v. Harbottle. Bare allegations, general dissatisfaction, or speculative suspicion are insufficient. On the materials considered, alleged misappropriation was not established even prima facie, complaints about destruction of records and transfer of shares were not pursued, and the write-offs of bad debts were supported by board resolutions and audited accounts. No direction for investigation was warranted. en-us Tue, 01 Jul 1980 00:00:00 +0530 Mon, 30 Jan 2012 18:16:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100002 A court should direct an investigation into a company's affairs under section 237(a)(ii) only where the materials disclose a prima facie case showing that a deeper inquiry is necessary in the interests of the company and that the minority has enough basis to justify departure from Foss v. Harbottle. Bare allegations, general dissatisfaction, or speculative suspicion are insufficient. On the materials considered, alleged misappropriation was not established even prima facie, complaints about destruction of records and transfer of shares were not pursued, and the write-offs of bad debts were supported by board resolutions and audited accounts. No direction for investigation was warranted. Case-Laws Companies Law Tue, 01 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100002