https://www.taxtmi.com/caselaws?id=102259 The court upheld that the board meeting and allotment of 7,000 equity shares by V.R. Textiles Limited were illegal and void due to non-compliance with legal requirements. It confirmed jurisdiction under Section 446(2) and recognized the petitioners' locus standi. The share allotment, which diluted Ramakrishna Industrials' shareholding, was deemed to significantly impact their shares' value, leading to the rectification of the register of members. The appeal was dismissed, affirming the lower court's decision. en-us Tue, 31 Mar 1992 00:00:00 +0530 Tue, 14 Feb 2012 12:38:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102259 The court upheld that the board meeting and allotment of 7,000 equity shares by V.R. Textiles Limited were illegal and void due to non-compliance with legal requirements. It confirmed jurisdiction under Section 446(2) and recognized the petitioners' locus standi. The share allotment, which diluted Ramakrishna Industrials' shareholding, was deemed to significantly impact their shares' value, leading to the rectification of the register of members. The appeal was dismissed, affirming the lower court's decision. Case-Laws Companies Law Tue, 31 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102259