https://www.taxtmi.com/caselaws?id=108414 The Supreme Court upheld the resolution passed by the Board of Directors for the sale of immovable properties, allowing the general meeting to proceed and ultimately accepting a bid for the sale. The company petition filed by a shareholder was deemed not maintainable due to lack of special reasons and failure to prove the company's inability to pay debts. The court emphasized the authority of the Board of Directors in making business decisions, criticizing the Company Court for interfering without evidence of fraud or mismanagement. The appeals were allowed, the company petition was dismissed, and the Board's authority was reaffirmed. en-us Thu, 13 Feb 2003 00:00:00 +0530 Sat, 31 Mar 2012 13:45:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108414 The Supreme Court upheld the resolution passed by the Board of Directors for the sale of immovable properties, allowing the general meeting to proceed and ultimately accepting a bid for the sale. The company petition filed by a shareholder was deemed not maintainable due to lack of special reasons and failure to prove the company's inability to pay debts. The court emphasized the authority of the Board of Directors in making business decisions, criticizing the Company Court for interfering without evidence of fraud or mismanagement. The appeals were allowed, the company petition was dismissed, and the Board's authority was reaffirmed. Case-Laws Companies Law Thu, 13 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108414