https://www.taxtmi.com/caselaws?id=127023 The court dismissed the respondents' request for the outright rejection of the petition under sections 397 and 398 of the Companies Act, 1956. It emphasized that the petition should not be dismissed at the initial stage as it did not lack a cause of action. The ruling highlighted that even if the allegations were unsubstantiated later, the Board could still provide equitable relief to the petitioner as a minority shareholder. The respondents were directed to file their response within six weeks, with an opportunity for a rejoinder within four weeks thereafter. en-us Wed, 11 May 2011 00:00:00 +0530 Sat, 09 Feb 2013 13:34:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=127023 The court dismissed the respondents' request for the outright rejection of the petition under sections 397 and 398 of the Companies Act, 1956. It emphasized that the petition should not be dismissed at the initial stage as it did not lack a cause of action. The ruling highlighted that even if the allegations were unsubstantiated later, the Board could still provide equitable relief to the petitioner as a minority shareholder. The respondents were directed to file their response within six weeks, with an opportunity for a rejoinder within four weeks thereafter. Case-Laws Companies Law Wed, 11 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=127023