https://www.taxtmi.com/caselaws?id=333580 The company petition filed under sections 241, 242, and 246 of the Companies Act, 2013 sought interim restraint orders against an Extraordinary General Meeting for a director's removal. The parties agreed on a settlement where one party would exit the company based on share and investment valuation. A valuer was appointed to determine shareholding value, with payment proportional to shares. An audit tracked financial transactions, ensuring transparency. The minority shareholder could nominate directors. Valuation and payment terms for joint rights were established, with assets transferred to the petitioner. Payment was in installments, with restrictions on asset alienation until full payment, and personal guarantees discharged. The judgment disposed of the petition, granting liberty to both parties to apply as necessary. en-us Mon, 11 Jul 2016 00:00:00 +0530 Wed, 12 Oct 2016 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333580 The company petition filed under sections 241, 242, and 246 of the Companies Act, 2013 sought interim restraint orders against an Extraordinary General Meeting for a director's removal. The parties agreed on a settlement where one party would exit the company based on share and investment valuation. A valuer was appointed to determine shareholding value, with payment proportional to shares. An audit tracked financial transactions, ensuring transparency. The minority shareholder could nominate directors. Valuation and payment terms for joint rights were established, with assets transferred to the petitioner. Payment was in installments, with restrictions on asset alienation until full payment, and personal guarantees discharged. The judgment disposed of the petition, granting liberty to both parties to apply as necessary. Case-Laws Companies Law Mon, 11 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333580