https://www.taxtmi.com/caselaws?id=193960 Contemporaneous corporate records prevailed over disputed filings in assessing directorship and share issues in a closely held company. The record did not establish valid cessation of the petitioners as directors, because the alleged meetings and minutes were not proved and later annual return materials showed them continuing on the board. The purported appointment of additional directors was also rejected where the annual return and surrounding records did not support it. The increase in authorised capital and allotment of further shares were set aside because the allotment lacked a proper corporate purpose and appeared directed at creating a new majority and altering control, with status quo restoration and rectification of company records directed. en-us Fri, 17 Jun 2005 00:00:00 +0530 Tue, 30 Apr 2024 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193960 Contemporaneous corporate records prevailed over disputed filings in assessing directorship and share issues in a closely held company. The record did not establish valid cessation of the petitioners as directors, because the alleged meetings and minutes were not proved and later annual return materials showed them continuing on the board. The purported appointment of additional directors was also rejected where the annual return and surrounding records did not support it. The increase in authorised capital and allotment of further shares were set aside because the allotment lacked a proper corporate purpose and appeared directed at creating a new majority and altering control, with status quo restoration and rectification of company records directed. Case-Laws Companies Law Fri, 17 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193960