https://www.taxtmi.com/article/detailed?id=1524 Sections 397-399 permit eligible members to petition the CLB where company affairs are oppressive or prejudicial or where material management changes threaten the company; the Central Government may itself apply or authorize applicants. Petitions must follow Form 1 and Company Law Board Regulations (formatting, affidavit verification, proof of status, payment of fees, annexures, service on Registrar/Regional Director and respondents). The CLB may grant interim relief, regulate future conduct, order purchase of shares or capital reduction, modify or set aside agreements, and set aside recent transactions akin to fraudulent preferences. en-us Fri, 02 Dec 2011 14:07:47 +0530 Fri, 02 Dec 2011 14:07:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1524 Sections 397-399 permit eligible members to petition the CLB where company affairs are oppressive or prejudicial or where material management changes threaten the company; the Central Government may itself apply or authorize applicants. Petitions must follow Form 1 and Company Law Board Regulations (formatting, affidavit verification, proof of status, payment of fees, annexures, service on Registrar/Regional Director and respondents). The CLB may grant interim relief, regulate future conduct, order purchase of shares or capital reduction, modify or set aside agreements, and set aside recent transactions akin to fraudulent preferences. Articles Corporate Laws / IBC / SEBI Fri, 02 Dec 2011 14:07:47 +0530 https://www.taxtmi.com/article/detailed?id=1524