https://www.taxtmi.com/caselaws?id=340919 Foreign investment routed through an Indian investment structure was treated as not breaching FEMA at the transaction stage; any breach would arise only on repatriation without RBI permission. Contractually agreed articles giving an investor's nominee directors affirmative voting rights over reserved matters were treated as binding, so their exercise did not constitute oppression. The nominee directors' continuation, the debenture trustee's actions on their instructions, and the investor's contractual right to convert compulsorily convertible debentures were upheld within the agreed arrangements. Conversion of optionally partly convertible debentures required affirmative nominee-director approval and could not be compelled. Compensation and interim relief were rejected for lack of supporting grounds, and the company petition was described as vexatious and frivolous. en-us Tue, 17 Jan 2017 00:00:00 +0530 Thu, 30 Mar 2017 06:57:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340919 Foreign investment routed through an Indian investment structure was treated as not breaching FEMA at the transaction stage; any breach would arise only on repatriation without RBI permission. Contractually agreed articles giving an investor's nominee directors affirmative voting rights over reserved matters were treated as binding, so their exercise did not constitute oppression. The nominee directors' continuation, the debenture trustee's actions on their instructions, and the investor's contractual right to convert compulsorily convertible debentures were upheld within the agreed arrangements. Conversion of optionally partly convertible debentures required affirmative nominee-director approval and could not be compelled. Compensation and interim relief were rejected for lack of supporting grounds, and the company petition was described as vexatious and frivolous. Case-Laws Companies Law Tue, 17 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340919