https://www.taxtmi.com/caselaws?id=113762 The High Court partly allowed the appeal, confirming the Board's decision to set aside the allotment of 18,876 shares and restore the status quo ante. The Court directed respondent No. 2 and his family to refund the dividends received on the shares within three months. The removal of the appellant and his family from the directorship was deemed illegal, and they were reinstated. The appeal by the company and respondent No. 2 was rejected, with costs imposed on them. Respondent No. 3 was discharged from the proceedings, with costs awarded in their favor. en-us Tue, 02 Feb 2010 00:00:00 +0530 Fri, 17 Oct 2014 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113762 The High Court partly allowed the appeal, confirming the Board's decision to set aside the allotment of 18,876 shares and restore the status quo ante. The Court directed respondent No. 2 and his family to refund the dividends received on the shares within three months. The removal of the appellant and his family from the directorship was deemed illegal, and they were reinstated. The appeal by the company and respondent No. 2 was rejected, with costs imposed on them. Respondent No. 3 was discharged from the proceedings, with costs awarded in their favor. Case-Laws Companies Law Tue, 02 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113762