https://www.taxtmi.com/caselaws?id=111748 The Supreme Court upheld the Company Law Board's jurisdiction to direct the purchase of shares to resolve a deadlock, despite no proven oppression. The Court emphasized the broad powers of the CLB under Sections 397, 398, and 402 of the Companies Act to safeguard the company's interests. Finding no oppression, the Court affirmed the CLB and High Court's decisions, dismissing the appeal and highlighting the importance of addressing deadlock situations for the company's benefit. en-us Fri, 14 Mar 2008 00:00:00 +0530 Fri, 29 Nov 2013 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111748 The Supreme Court upheld the Company Law Board's jurisdiction to direct the purchase of shares to resolve a deadlock, despite no proven oppression. The Court emphasized the broad powers of the CLB under Sections 397, 398, and 402 of the Companies Act to safeguard the company's interests. Finding no oppression, the Court affirmed the CLB and High Court's decisions, dismissing the appeal and highlighting the importance of addressing deadlock situations for the company's benefit. Case-Laws Companies Law Fri, 14 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111748