https://www.taxtmi.com/caselaws?id=345422 The Tribunal found the appointments of R2 as Managing Director and R3 as Director to be illegal due to lack of proper procedures. The issue and allotment of further shares without following statutory requirements were deemed oppressive, reducing the petitioner's shareholding. The respondents' mismanagement and failure to comply with legal obligations led to a ruling of oppression and mismanagement. The Tribunal ordered the reversal of capital changes, share allotments, and appointments, along with an independent audit at the respondents' expense. The petition was allowed, with no costs awarded. en-us Tue, 30 May 2017 00:00:00 +0530 Mon, 17 Jul 2017 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345422 The Tribunal found the appointments of R2 as Managing Director and R3 as Director to be illegal due to lack of proper procedures. The issue and allotment of further shares without following statutory requirements were deemed oppressive, reducing the petitioner's shareholding. The respondents' mismanagement and failure to comply with legal obligations led to a ruling of oppression and mismanagement. The Tribunal ordered the reversal of capital changes, share allotments, and appointments, along with an independent audit at the respondents' expense. The petition was allowed, with no costs awarded. Case-Laws Companies Law Tue, 30 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345422