https://www.taxtmi.com/caselaws?id=353539 The Tribunal ruled in favor of the petitioners, finding merit in their claims of oppression and mismanagement. The transfer of 14,96,000 shares from one company to another was deemed invalid, and the shares were ordered to be returned. Additionally, the issuance of additional equity shares was found to be non-compliant and the petitioners were offered proportionate shares. The Tribunal dismissed the arbitration agreement as insufficient and declined allegations of falsification of accounts and fund siphoning. The petitioners were granted relief under relevant sections of the Companies Act, including share restoration and board reconstitution. en-us Wed, 15 Nov 2017 00:00:00 +0530 Sat, 06 Jan 2018 07:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353539 The Tribunal ruled in favor of the petitioners, finding merit in their claims of oppression and mismanagement. The transfer of 14,96,000 shares from one company to another was deemed invalid, and the shares were ordered to be returned. Additionally, the issuance of additional equity shares was found to be non-compliant and the petitioners were offered proportionate shares. The Tribunal dismissed the arbitration agreement as insufficient and declined allegations of falsification of accounts and fund siphoning. The petitioners were granted relief under relevant sections of the Companies Act, including share restoration and board reconstitution. Case-Laws Companies Law Wed, 15 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353539