https://www.taxtmi.com/caselaws?id=221040 The High Court found the rejection of the Company Petition by the Company Law Board erroneous, emphasizing the failure to consider crucial aspects. The Judge highlighted the mandatory shareholding requirements under Section 399(1) of the Companies Act and criticized the Board for not addressing the admitted shareholding positions. Consequently, the Court quashed the Board's order, remanding the matter for rehearing on all points to ensure a comprehensive evaluation and fair consideration of the case. en-us Wed, 31 Oct 2012 00:00:00 +0530 Wed, 20 Feb 2013 07:58:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221040 The High Court found the rejection of the Company Petition by the Company Law Board erroneous, emphasizing the failure to consider crucial aspects. The Judge highlighted the mandatory shareholding requirements under Section 399(1) of the Companies Act and criticized the Board for not addressing the admitted shareholding positions. Consequently, the Court quashed the Board's order, remanding the matter for rehearing on all points to ensure a comprehensive evaluation and fair consideration of the case. Case-Laws Companies Law Wed, 31 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221040