https://www.taxtmi.com/caselaws?id=193558 The court found that the second respondent engaged in acts of oppression, including illegal allotment of shares, removal of directors, and financial mismanagement. The judgment ordered the transfer of shares to the petitioners to maintain parity and directed the reconstitution of the Board, removing the third respondent as a director. An independent audit was mandated to investigate financial discrepancies, and any misappropriated funds were to be reimbursed by the second respondent with interest. The company was also directed to pay the petitioners' remuneration since April 2002. The petition was disposed of with no order as to costs. en-us Mon, 06 Sep 2004 00:00:00 +0530 Fri, 07 Jun 2024 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193558 The court found that the second respondent engaged in acts of oppression, including illegal allotment of shares, removal of directors, and financial mismanagement. The judgment ordered the transfer of shares to the petitioners to maintain parity and directed the reconstitution of the Board, removing the third respondent as a director. An independent audit was mandated to investigate financial discrepancies, and any misappropriated funds were to be reimbursed by the second respondent with interest. The company was also directed to pay the petitioners' remuneration since April 2002. The petition was disposed of with no order as to costs. Case-Laws Companies Law Mon, 06 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193558