https://www.taxtmi.com/caselaws?id=101751 Mandatory compliance with statutory requirements for share transfers was treated as essential, and transfers supported by irregular duplicate certificates, same-day transmissions and transfers, and unexplained refusals to register rival purchasers were described as prima facie invalid. The register of members was therefore not regarded as reflecting the true position, and the disputed shares could not support the incumbent group's claimed majority. The material also indicated prima facie mismanagement and oppressive conduct, including misuse of control and deteriorating company affairs. In that setting, the court considered interim equitable intervention appropriate, including supersession of the board and appointment of a special officer to preserve the company pending trial. en-us Wed, 06 Jul 1988 00:00:00 +0530 Sat, 11 Feb 2012 10:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101751 Mandatory compliance with statutory requirements for share transfers was treated as essential, and transfers supported by irregular duplicate certificates, same-day transmissions and transfers, and unexplained refusals to register rival purchasers were described as prima facie invalid. The register of members was therefore not regarded as reflecting the true position, and the disputed shares could not support the incumbent group's claimed majority. The material also indicated prima facie mismanagement and oppressive conduct, including misuse of control and deteriorating company affairs. In that setting, the court considered interim equitable intervention appropriate, including supersession of the board and appointment of a special officer to preserve the company pending trial. Case-Laws Companies Law Wed, 06 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101751