https://www.taxtmi.com/caselaws?id=108428 The court ruled in favor of the petitioner, finding that the respondents' invocation of Section 395 of the Companies Act, 1956 for compulsory acquisition of shares was not valid. The court highlighted the failure to meet procedural requirements, including the lack of a proper notice and inadequate information transmission. Additionally, the court emphasized the importance of fair valuation of shares and underscored the need for compliance with statutory timelines. The constitutional validity of Section 395 was upheld, but its misuse in this case was deemed unconstitutional. The petitioner was granted costs and all pending applications were resolved. en-us Fri, 14 Feb 2003 00:00:00 +0530 Sat, 31 Mar 2012 14:53:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108428 The court ruled in favor of the petitioner, finding that the respondents' invocation of Section 395 of the Companies Act, 1956 for compulsory acquisition of shares was not valid. The court highlighted the failure to meet procedural requirements, including the lack of a proper notice and inadequate information transmission. Additionally, the court emphasized the importance of fair valuation of shares and underscored the need for compliance with statutory timelines. The constitutional validity of Section 395 was upheld, but its misuse in this case was deemed unconstitutional. The petitioner was granted costs and all pending applications were resolved. Case-Laws Companies Law Fri, 14 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108428