https://www.taxtmi.com/caselaws?id=234920 Maintainability of an oppression and mismanagement petition is assessed on the shareholding and written consent existing on the date of presentation, so later withdrawal of support does not defeat the petition. The HC held that support from a shareholder whose transfer was not yet reflected in company records could count where the transfer and authorisation were not denied. It also held that a power of attorney must be read as a whole, and written consent given through an authorised holder was valid where it accorded with the instrument's purpose. The appellant was therefore entitled to be transposed in place of the original petitioners, and the proceeding could continue on merits. en-us Mon, 10 Jun 2013 00:00:00 +0530 Thu, 04 Jul 2013 06:23:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234920 Maintainability of an oppression and mismanagement petition is assessed on the shareholding and written consent existing on the date of presentation, so later withdrawal of support does not defeat the petition. The HC held that support from a shareholder whose transfer was not yet reflected in company records could count where the transfer and authorisation were not denied. It also held that a power of attorney must be read as a whole, and written consent given through an authorised holder was valid where it accorded with the instrument's purpose. The appellant was therefore entitled to be transposed in place of the original petitioners, and the proceeding could continue on merits. Case-Laws Companies Law Mon, 10 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234920