https://www.taxtmi.com/caselaws?id=102634 Oppression and mismanagement proceedings under the Companies Act, 1956 may address share issuances designed to alter corporate control where no valid offer to existing shareholders is established and the company's articles are breached. A person who received notice, participated through counsel and shows no actual prejudice cannot ordinarily invalidate proceedings merely because of non-impleadment, particularly where statutory impleadment was available. A pledge of shares does not itself confer independent shareholder rights equivalent to a transfer. The remedy for oppression and mismanagement is not confined to register rectification where the allegations concern director misconduct and misuse of corporate powers; consequential protective directions may restore the share structure. en-us Tue, 27 Sep 1994 00:00:00 +0530 Wed, 15 Feb 2012 15:49:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102634 Oppression and mismanagement proceedings under the Companies Act, 1956 may address share issuances designed to alter corporate control where no valid offer to existing shareholders is established and the company's articles are breached. A person who received notice, participated through counsel and shows no actual prejudice cannot ordinarily invalidate proceedings merely because of non-impleadment, particularly where statutory impleadment was available. A pledge of shares does not itself confer independent shareholder rights equivalent to a transfer. The remedy for oppression and mismanagement is not confined to register rectification where the allegations concern director misconduct and misuse of corporate powers; consequential protective directions may restore the share structure. Case-Laws Companies Law Tue, 27 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102634