https://www.taxtmi.com/caselaws?id=103474 Under section 399(3) of the Companies Act, 1956, an oppression and mismanagement petition may be presented by one or more members with the written consent of the rest, and the one-tenth shareholding threshold is satisfied collectively by the petitioners and consenting members. A consent letter confirming that the shareholder had read the petition and agreed to it is valid for this purpose. The Companies (Amendment) Act, 1988 transferred jurisdiction over such matters to the Company Law Board, but its saving provision preserved company petitions already pending before court, which therefore continue to be heard and decided under the unamended Act. en-us Fri, 09 Jul 1993 00:00:00 +0530 Thu, 23 Feb 2012 10:33:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103474 Under section 399(3) of the Companies Act, 1956, an oppression and mismanagement petition may be presented by one or more members with the written consent of the rest, and the one-tenth shareholding threshold is satisfied collectively by the petitioners and consenting members. A consent letter confirming that the shareholder had read the petition and agreed to it is valid for this purpose. The Companies (Amendment) Act, 1988 transferred jurisdiction over such matters to the Company Law Board, but its saving provision preserved company petitions already pending before court, which therefore continue to be heard and decided under the unamended Act. Case-Laws Companies Law Fri, 09 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103474