https://www.taxtmi.com/caselaws?id=346566 Increase in authorised share capital, fresh allotment of shares, alteration of the memorandum and articles, and appointment of whole-time directors were found to amount to oppression and mismanagement where they diluted a substantial member's holding and disturbed the existing balance of control without being shown to be unavoidable emergency measures for the company's survival. Proper notice was mandatory for the meetings and resolutions relied on, and certificates of posting were not accepted as reliable proof of service in the circumstances. In the absence of satisfactory notice, the meetings and resolutions were invalid against the petitioner, the challenged corporate steps were annulled, the allotments were cancelled, and the shareholding position was restored with consequential refund and exit-related directions. en-us Fri, 07 Apr 2017 00:00:00 +0530 Fri, 18 Aug 2017 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346566 Increase in authorised share capital, fresh allotment of shares, alteration of the memorandum and articles, and appointment of whole-time directors were found to amount to oppression and mismanagement where they diluted a substantial member's holding and disturbed the existing balance of control without being shown to be unavoidable emergency measures for the company's survival. Proper notice was mandatory for the meetings and resolutions relied on, and certificates of posting were not accepted as reliable proof of service in the circumstances. In the absence of satisfactory notice, the meetings and resolutions were invalid against the petitioner, the challenged corporate steps were annulled, the allotments were cancelled, and the shareholding position was restored with consequential refund and exit-related directions. Case-Laws Companies Law Fri, 07 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346566