https://www.taxtmi.com/caselaws?id=103621 The court found the allotment of shares to certain respondents to be invalid and prejudicial to the company's interests. Mismanagement, including failure to hold AGMs and questionable financial practices, was noted. The court declared the allotment of shares illegal, appointed a receiver for six months to oversee company affairs, invalidated a specific EGM, and directed the convening of a new AGM for the election of a new board of directors. The actions of the respondents were deemed detrimental to the company and its members, necessitating corrective measures for proper governance. en-us Fri, 20 Mar 1998 00:00:00 +0530 Fri, 24 Feb 2012 10:32:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103621 The court found the allotment of shares to certain respondents to be invalid and prejudicial to the company's interests. Mismanagement, including failure to hold AGMs and questionable financial practices, was noted. The court declared the allotment of shares illegal, appointed a receiver for six months to oversee company affairs, invalidated a specific EGM, and directed the convening of a new AGM for the election of a new board of directors. The actions of the respondents were deemed detrimental to the company and its members, necessitating corrective measures for proper governance. Case-Laws Companies Law Fri, 20 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103621