https://www.taxtmi.com/caselaws?id=197299 The court dismissed the interlocutory motion, vacating the interim order restraining DESCON from issuing equity shares on a preferential basis. The court held that the petitioner lacked locus standi as a shareholder but could challenge based on equitable rights. The petitioner's claim to control 26% of DESCON's equity was not substantiated, and DESCON's issuance of new shares to venture capitalists was justified. The court found no prima facie case for interim relief, allowing DESCON to proceed with the resolution passed on June 9, 2006. en-us Fri, 17 Nov 2006 00:00:00 +0530 Tue, 02 Jan 2018 10:42:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197299 The court dismissed the interlocutory motion, vacating the interim order restraining DESCON from issuing equity shares on a preferential basis. The court held that the petitioner lacked locus standi as a shareholder but could challenge based on equitable rights. The petitioner's claim to control 26% of DESCON's equity was not substantiated, and DESCON's issuance of new shares to venture capitalists was justified. The court found no prima facie case for interim relief, allowing DESCON to proceed with the resolution passed on June 9, 2006. Case-Laws Companies Law Fri, 17 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197299