https://www.taxtmi.com/caselaws?id=215020 The High Court dismissed the petitions under Sections 397 and 398 of the Companies Act, ruling that the allegations of oppression and mismanagement were not substantiated. The refusal to convert warrants into equity shares by the company did not amount to grounds for relief under these sections. The Court set aside the Company Law Board's order directing the conversion of warrants, emphasizing that isolated incidents like this do not justify winding up the company on just and equitable grounds. The appeal by the company was allowed, and the relief sought by the petitioner was denied. en-us Tue, 22 Feb 2011 00:00:00 +0530 Fri, 08 Feb 2013 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215020 The High Court dismissed the petitions under Sections 397 and 398 of the Companies Act, ruling that the allegations of oppression and mismanagement were not substantiated. The refusal to convert warrants into equity shares by the company did not amount to grounds for relief under these sections. The Court set aside the Company Law Board's order directing the conversion of warrants, emphasizing that isolated incidents like this do not justify winding up the company on just and equitable grounds. The appeal by the company was allowed, and the relief sought by the petitioner was denied. Case-Laws Companies Law Tue, 22 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215020