https://www.taxtmi.com/caselaws?id=190974 Petitioner has member standing; change of name and indirect takeover did not trigger Articles' pre-emptive transfer restriction and register must be rectified. The power of attorney and verification affidavit were valid to institute proceedings. A 2001 rights allotment was found oppressive for deliberate denial of subscription opportunity and lack of commercial justification; the allotment is set aside with options to restore pre-2001 shareholding or to exit on fair valuation by an independent valuer. Other allegations (nominee appointment, remuneration, related-party dealings, siphoning) lacked sufficient proof and do not amount to mismanagement; notices must be sent by registered post 30 days in advance. en-us Mon, 26 Jul 2004 00:00:00 +0530 Wed, 15 Mar 2017 10:28:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190974 Petitioner has member standing; change of name and indirect takeover did not trigger Articles' pre-emptive transfer restriction and register must be rectified. The power of attorney and verification affidavit were valid to institute proceedings. A 2001 rights allotment was found oppressive for deliberate denial of subscription opportunity and lack of commercial justification; the allotment is set aside with options to restore pre-2001 shareholding or to exit on fair valuation by an independent valuer. Other allegations (nominee appointment, remuneration, related-party dealings, siphoning) lacked sufficient proof and do not amount to mismanagement; notices must be sent by registered post 30 days in advance. Case-Laws Companies Law Mon, 26 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190974