https://www.taxtmi.com/caselaws?id=214457 The court found the management guilty of converting majority shareholders into a minority by issuing shares without notice, constituting oppression and mismanagement. It held that the impugned allotments were illegal and ordered their cancellation. Refunds were directed for one allotment, while adjustments for others were canceled. A shareholders' meeting was to be convened based on shareholding post-transfer in April 2004. The court emphasized the company's interest, majority shareholders' rights, and aimed to rectify the Agarwal group's wrongful actions for company stability and proper governance. en-us Tue, 21 Feb 2012 00:00:00 +0530 Mon, 11 Feb 2013 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214457 The court found the management guilty of converting majority shareholders into a minority by issuing shares without notice, constituting oppression and mismanagement. It held that the impugned allotments were illegal and ordered their cancellation. Refunds were directed for one allotment, while adjustments for others were canceled. A shareholders' meeting was to be convened based on shareholding post-transfer in April 2004. The court emphasized the company's interest, majority shareholders' rights, and aimed to rectify the Agarwal group's wrongful actions for company stability and proper governance. Case-Laws Companies Law Tue, 21 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214457