https://www.taxtmi.com/caselaws?id=195625 The court found that allegations of oppression and mismanagement in M/s Chavi Designs Pvt. Ltd. were substantiated, including account manipulation and fund siphoning by respondent No. 2. The appointment of an additional director was deemed illegal. The court ordered respondent No. 2 to restore siphoned funds and directed the parties to agree on a settlement for the petitioner's exit or engage in a bidding process for share buyout. The court retained jurisdiction until the bidding process was finalized, vacated all interim orders, and awarded no costs. en-us Tue, 22 May 2007 00:00:00 +0530 Fri, 19 Jan 2024 15:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195625 The court found that allegations of oppression and mismanagement in M/s Chavi Designs Pvt. Ltd. were substantiated, including account manipulation and fund siphoning by respondent No. 2. The appointment of an additional director was deemed illegal. The court ordered respondent No. 2 to restore siphoned funds and directed the parties to agree on a settlement for the petitioner's exit or engage in a bidding process for share buyout. The court retained jurisdiction until the bidding process was finalized, vacated all interim orders, and awarded no costs. Case-Laws Companies Law Tue, 22 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195625