https://www.taxtmi.com/caselaws?id=196248 The Court upheld the Company Law Board's authority to direct the appellant to purchase the shareholding of respondents No.1 to 6, even in the absence of a finding of oppression and mismanagement. The Court determined that the CLB's powers under Section 402 of the Companies Act, 1956 are extensive, allowing it to regulate company affairs and make equitable orders. The decision emphasized the CLB's jurisdiction to act in the company's best interest, ensuring fairness and justice among shareholders. The appeal was dismissed, with no costs awarded. en-us Mon, 02 Jul 2012 00:00:00 +0530 Thu, 23 Nov 2017 11:30:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196248 The Court upheld the Company Law Board's authority to direct the appellant to purchase the shareholding of respondents No.1 to 6, even in the absence of a finding of oppression and mismanagement. The Court determined that the CLB's powers under Section 402 of the Companies Act, 1956 are extensive, allowing it to regulate company affairs and make equitable orders. The decision emphasized the CLB's jurisdiction to act in the company's best interest, ensuring fairness and justice among shareholders. The appeal was dismissed, with no costs awarded. Case-Laws Companies Law Mon, 02 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196248