https://www.taxtmi.com/caselaws?id=233331 The Board dismissed the petition, ruling that the petitioner was not a valid member of the company due to non-payment for shares, rendering him ineligible to file under Sections 397-398. Allegations of oppression, mismanagement, and fraudulent removal lacked evidence. The cancellation of the MoU was deemed justified, attributing it to the petitioner's failure to secure funds. Financial mismanagement claims against the petitioner were upheld due to lack of credible evidence. Statutory requirements for board meetings and notices were found to be complied with, resulting in the dismissal of the petition without costs. en-us Thu, 23 Dec 2010 00:00:00 +0530 Sat, 27 Apr 2013 11:23:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233331 The Board dismissed the petition, ruling that the petitioner was not a valid member of the company due to non-payment for shares, rendering him ineligible to file under Sections 397-398. Allegations of oppression, mismanagement, and fraudulent removal lacked evidence. The cancellation of the MoU was deemed justified, attributing it to the petitioner's failure to secure funds. Financial mismanagement claims against the petitioner were upheld due to lack of credible evidence. Statutory requirements for board meetings and notices were found to be complied with, resulting in the dismissal of the petition without costs. Case-Laws Companies Law Thu, 23 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233331