https://www.taxtmi.com/caselaws?id=104980 Non-cooperation by a shareholder and prolonged corporate mismanagement justified the Company Law Board's refusal to order investigation and its reconstitution of the board under section 402 of the Companies Act, 1956. The record showed failure to appear, file a counter-affidavit, assist in valuation of shares, finalise accounts, or cooperate with the administrator appointed under an earlier order, together with long delays in holding annual general meetings and finalising accounts. In these circumstances, the reconstituted board was treated as a workable arrangement and no legal infirmity was found warranting appellate interference. en-us Thu, 14 Oct 1999 00:00:00 +0530 Thu, 01 Mar 2012 19:02:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104980 Non-cooperation by a shareholder and prolonged corporate mismanagement justified the Company Law Board's refusal to order investigation and its reconstitution of the board under section 402 of the Companies Act, 1956. The record showed failure to appear, file a counter-affidavit, assist in valuation of shares, finalise accounts, or cooperate with the administrator appointed under an earlier order, together with long delays in holding annual general meetings and finalising accounts. In these circumstances, the reconstituted board was treated as a workable arrangement and no legal infirmity was found warranting appellate interference. Case-Laws Companies Law Thu, 14 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104980