https://www.taxtmi.com/caselaws?id=212647 The Court set aside the allocation of additional shares and appointment of directors due to lack of evidence and procedural irregularities. The appellants were directed to restore the siphoned amount of Rs. 7.50 lacs. The transfer deed was deemed forged and fabricated, leading to the allotment of shares being set aside. The removal of Mr. Sanjay Paliwal from the Board was considered illegal, and he was restored. The company's shareholding and Board composition were to revert to the status as of 30th September 2004 for proper governance. en-us Mon, 16 Jan 2012 00:00:00 +0530 Thu, 19 Apr 2012 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212647 The Court set aside the allocation of additional shares and appointment of directors due to lack of evidence and procedural irregularities. The appellants were directed to restore the siphoned amount of Rs. 7.50 lacs. The transfer deed was deemed forged and fabricated, leading to the allotment of shares being set aside. The removal of Mr. Sanjay Paliwal from the Board was considered illegal, and he was restored. The company's shareholding and Board composition were to revert to the status as of 30th September 2004 for proper governance. Case-Laws Companies Law Mon, 16 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212647