https://www.taxtmi.com/caselaws?id=104175 The Court upheld the Company Law Board's order, reconstituting the Board of Directors, directing share allotment to Group A, and offering share repurchase options to Respondent Nos. 7, 8, and 9. The High Court dismissed the appeals, affirming the CLB's decisions regarding the validity of share transfers, removal and appointment of directors, share allotment, and the maintainability of the petition under the Companies Act, 1956. Group B's actions were deemed oppressive and against the agreed shareholding structure, leading to the reconstitution of the Board in favor of Group A. en-us Fri, 07 May 1999 00:00:00 +0530 Tue, 28 Feb 2012 11:37:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104175 The Court upheld the Company Law Board's order, reconstituting the Board of Directors, directing share allotment to Group A, and offering share repurchase options to Respondent Nos. 7, 8, and 9. The High Court dismissed the appeals, affirming the CLB's decisions regarding the validity of share transfers, removal and appointment of directors, share allotment, and the maintainability of the petition under the Companies Act, 1956. Group B's actions were deemed oppressive and against the agreed shareholding structure, leading to the reconstitution of the Board in favor of Group A. Case-Laws Companies Law Fri, 07 May 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104175