https://www.taxtmi.com/caselaws?id=170786 The CLB determined that the petition was not filed with oblique motives and confirmed Pearson's locus standi. It found the 2000 share issue was not bona fide and directed cancellation if the petitioner remained. The CLB rejected the petitioner's Board nominee due to conflict of interest and ordered notices to be properly sent. Allegations about remuneration and appointments were dismissed. The CLB suggested parting ways, allowing the petitioner to choose between staying or selling shares, with valuation based on the 2003 balance sheet. On appeal, the court upheld the CLB's findings but allowed the petitioner control or name change if forced out. The second respondent was given 30 days to decide on share transactions. en-us Thu, 08 Sep 2005 00:00:00 +0530 Mon, 06 Jul 2026 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170786 The CLB determined that the petition was not filed with oblique motives and confirmed Pearson's locus standi. It found the 2000 share issue was not bona fide and directed cancellation if the petitioner remained. The CLB rejected the petitioner's Board nominee due to conflict of interest and ordered notices to be properly sent. Allegations about remuneration and appointments were dismissed. The CLB suggested parting ways, allowing the petitioner to choose between staying or selling shares, with valuation based on the 2003 balance sheet. On appeal, the court upheld the CLB's findings but allowed the petitioner control or name change if forced out. The second respondent was given 30 days to decide on share transactions. Case-Laws Companies Law Thu, 08 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170786