https://www.taxtmi.com/caselaws?id=110754 The court dismissed the plaintiffs' application seeking interlocutory reliefs to restrain the defendant company from issuing rights shares. The court found that the decision to issue rights shares was for the company's interest and business expansion, not for personal gain. It concluded that the rights shares would benefit existing shareholders and directed the allocation of unsubscribed shares to prevent concentration of shareholdings. The court emphasized that directors have discretion in managing the company, and the issuance of shares should primarily benefit the company. en-us Wed, 22 Feb 2006 00:00:00 +0530 Wed, 18 Apr 2012 14:55:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110754 The court dismissed the plaintiffs' application seeking interlocutory reliefs to restrain the defendant company from issuing rights shares. The court found that the decision to issue rights shares was for the company's interest and business expansion, not for personal gain. It concluded that the rights shares would benefit existing shareholders and directed the allocation of unsubscribed shares to prevent concentration of shareholdings. The court emphasized that directors have discretion in managing the company, and the issuance of shares should primarily benefit the company. Case-Laws Companies Law Wed, 22 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110754