https://www.taxtmi.com/caselaws?id=222110 The court allowed the first respondent to proceed with a rights issue but with protections for the petitioners. The petitioners were to be offered rights shares as if their claim for a specific number of shares was valid, without immediate payment. If the petitioners lost their claim, the rights issue for those shares would be canceled, and they could opt for the shares they actually held. If successful, they could claim the full shares. The Company Law Board was instructed to resolve the petition promptly, and the court deemed the initial dismissal of the application improper, ensuring the petitioners' interests were safeguarded during the process. en-us Fri, 22 Mar 2013 00:00:00 +0530 Mon, 15 Apr 2013 11:39:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=222110 The court allowed the first respondent to proceed with a rights issue but with protections for the petitioners. The petitioners were to be offered rights shares as if their claim for a specific number of shares was valid, without immediate payment. If the petitioners lost their claim, the rights issue for those shares would be canceled, and they could opt for the shares they actually held. If successful, they could claim the full shares. The Company Law Board was instructed to resolve the petition promptly, and the court deemed the initial dismissal of the application improper, ensuring the petitioners' interests were safeguarded during the process. Case-Laws Companies Law Fri, 22 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=222110