https://www.taxtmi.com/caselaws?id=109301 The Supreme Court found the petition under sections 397 and 398 maintainable, holding that the appellants had the requisite shareholding. The Court determined that the Trust held the necessary shares, validly authorized by the trustees, dismissing challenges to the trustees' consent and the filing of consent letters. Additionally, the Court confirmed the trustees' authority to act on behalf of the Trust and clarified that beneficial interest in shares does not affect petition maintainability. The decision overturned the High Court's ruling and remanded the matter for further proceedings before the Single Judge. en-us Tue, 26 Oct 2004 00:00:00 +0530 Fri, 29 Nov 2013 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109301 The Supreme Court found the petition under sections 397 and 398 maintainable, holding that the appellants had the requisite shareholding. The Court determined that the Trust held the necessary shares, validly authorized by the trustees, dismissing challenges to the trustees' consent and the filing of consent letters. Additionally, the Court confirmed the trustees' authority to act on behalf of the Trust and clarified that beneficial interest in shares does not affect petition maintainability. The decision overturned the High Court's ruling and remanded the matter for further proceedings before the Single Judge. Case-Laws Companies Law Tue, 26 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109301