https://www.taxtmi.com/caselaws?id=185744 A petition under Sections 397 and 398 remained maintainable where the original written consent satisfied Section 399(3), and later impleaded transferees merely stepped into the shoes of the original members. A private oral shareholders' arrangement could operate while the company was private, but it could not override the statutory scheme or articles after conversion into a public company. Notice, resolutions and the allotment of new shares were treated as valid where the shareholders were adequately informed and the allotment was within the company's powers. Relief for oppression or mismanagement was unavailable because the impugned acts were lawful and the record did not show continuing oppressive conduct or prejudicial mismanagement within the statute. en-us Thu, 18 Apr 1963 00:00:00 +0530 Fri, 26 Aug 2016 15:04:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185744 A petition under Sections 397 and 398 remained maintainable where the original written consent satisfied Section 399(3), and later impleaded transferees merely stepped into the shoes of the original members. A private oral shareholders' arrangement could operate while the company was private, but it could not override the statutory scheme or articles after conversion into a public company. Notice, resolutions and the allotment of new shares were treated as valid where the shareholders were adequately informed and the allotment was within the company's powers. Relief for oppression or mismanagement was unavailable because the impugned acts were lawful and the record did not show continuing oppressive conduct or prejudicial mismanagement within the statute. Case-Laws Companies Law Thu, 18 Apr 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185744