https://www.taxtmi.com/caselaws?id=171059 The court ruled in favor of the petitioner, setting aside the allotments of 5,44,974 shares in November 2002 and 3,16,920 shares in February 2003. It found that the allotments were made unlawfully, without proper disclosure, and were prejudicial to the petitioner. The company was directed to reduce its capital and make a fresh offer of shares to existing shareholders in proportion to their shareholding before the disputed allotments. The petition and all related applications were disposed of with these directives. en-us Tue, 20 Jan 2009 00:00:00 +0530 Thu, 23 Nov 2023 14:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171059 The court ruled in favor of the petitioner, setting aside the allotments of 5,44,974 shares in November 2002 and 3,16,920 shares in February 2003. It found that the allotments were made unlawfully, without proper disclosure, and were prejudicial to the petitioner. The company was directed to reduce its capital and make a fresh offer of shares to existing shareholders in proportion to their shareholding before the disputed allotments. The petition and all related applications were disposed of with these directives. Case-Laws Companies Law Tue, 20 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171059