https://www.taxtmi.com/caselaws?id=193531 The High Court upheld the maintainability of the Company Petition, rejecting claims of suppression of facts. The Memorandum of Understanding (MOU) was deemed invalid and unenforceable, as jurisdiction lay with the Civil Court. Board meetings were found illegal and oppressive, resolutions from one meeting were declared oppressive. The Valuation Report was criticized for bias and incorrect methods. The Court directed a buyout process, allowing Nafan to acquire Muthu Group's shares through competitive bid or fair market valuation, overseen by an appointed Administrator to ensure fairness and protect SAF Yeast's interests. en-us Thu, 29 Oct 2015 00:00:00 +0530 Fri, 04 Aug 2017 07:00:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193531 The High Court upheld the maintainability of the Company Petition, rejecting claims of suppression of facts. The Memorandum of Understanding (MOU) was deemed invalid and unenforceable, as jurisdiction lay with the Civil Court. Board meetings were found illegal and oppressive, resolutions from one meeting were declared oppressive. The Valuation Report was criticized for bias and incorrect methods. The Court directed a buyout process, allowing Nafan to acquire Muthu Group's shares through competitive bid or fair market valuation, overseen by an appointed Administrator to ensure fairness and protect SAF Yeast's interests. Case-Laws Companies Law Thu, 29 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193531