https://www.taxtmi.com/caselaws?id=196729 The court found the illegal removal of the Managing Director and the unlawful appointment of a new Managing Director to be invalid. The unauthorized allotment of shares was also deemed illegal. The court suggested the parties should part ways due to breach of trust, allowing the petitioners to sell their shares to the respondent company. The petition was disposed of with directions for the valuation and potential sale of the petitioners' shares, providing a permanent solution to the conflict without any cost orders. en-us Thu, 15 Jul 2004 00:00:00 +0530 Wed, 13 Dec 2017 10:54:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196729 The court found the illegal removal of the Managing Director and the unlawful appointment of a new Managing Director to be invalid. The unauthorized allotment of shares was also deemed illegal. The court suggested the parties should part ways due to breach of trust, allowing the petitioners to sell their shares to the respondent company. The petition was disposed of with directions for the valuation and potential sale of the petitioners' shares, providing a permanent solution to the conflict without any cost orders. Case-Laws Companies Law Thu, 15 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196729