https://www.taxtmi.com/caselaws?id=195619 The petition under sections 397 and 398 of the Companies Act was deemed maintainable as the petitioners met the shareholding requirement. The Board directed the transmission of shares with necessary indemnity bonds. The oppressive allotment of additional shares was set aside, mismanagement allegations were upheld, and the illegal appointment of a director was annulled. The Board issued various directions for rectification and reconstitution of the company's affairs, with all claims disposed of and interim orders vacated, without costs. en-us Fri, 23 May 2008 00:00:00 +0530 Mon, 06 Nov 2017 10:34:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195619 The petition under sections 397 and 398 of the Companies Act was deemed maintainable as the petitioners met the shareholding requirement. The Board directed the transmission of shares with necessary indemnity bonds. The oppressive allotment of additional shares was set aside, mismanagement allegations were upheld, and the illegal appointment of a director was annulled. The Board issued various directions for rectification and reconstitution of the company's affairs, with all claims disposed of and interim orders vacated, without costs. Case-Laws Companies Law Fri, 23 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195619