https://www.taxtmi.com/caselaws?id=101724 The court dismissed the petition challenging the approval of a sole selling agent under section 294AA of the Companies Act, 1956. It held that the Company Law Board's decision was justified, emphasizing the importance of natural justice and the need for reasons in decisions. Shareholders were found to have limited grounds to challenge such decisions. The court highlighted adherence to guidelines and the quasi-judicial nature of the Board's power. Despite the lack of explicit reasons in the order, the decision was deemed valid based on meeting minutes and documents considered. en-us Tue, 04 Aug 1987 00:00:00 +0530 Fri, 10 Feb 2012 17:59:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101724 The court dismissed the petition challenging the approval of a sole selling agent under section 294AA of the Companies Act, 1956. It held that the Company Law Board's decision was justified, emphasizing the importance of natural justice and the need for reasons in decisions. Shareholders were found to have limited grounds to challenge such decisions. The court highlighted adherence to guidelines and the quasi-judicial nature of the Board's power. Despite the lack of explicit reasons in the order, the decision was deemed valid based on meeting minutes and documents considered. Case-Laws Companies Law Tue, 04 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101724