https://www.taxtmi.com/caselaws?id=198214 Section 395 of the Companies Act, 1956 applies to a statutory scheme or contract for transfer of shares to a transferee company formed or registered under company law; a private offer by an unregistered firm to individual shareholders does not meet that requirement. Investigation under Section 237(a)(ii) requires clear, specific and substantial material indicating fraud, unlawful purpose, oppression, misconduct or suppression of information, rather than vague or unverified allegations. Board appointments of additional directors remain valid where authorised by the articles and within the prescribed numerical limit. Restrictions concerning managing agents do not apply where the relevant party acts only as an agent rather than as a statutory managing agent. en-us Thu, 23 Jun 1966 00:00:00 +0530 Mon, 19 Jul 2021 14:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198214 Section 395 of the Companies Act, 1956 applies to a statutory scheme or contract for transfer of shares to a transferee company formed or registered under company law; a private offer by an unregistered firm to individual shareholders does not meet that requirement. Investigation under Section 237(a)(ii) requires clear, specific and substantial material indicating fraud, unlawful purpose, oppression, misconduct or suppression of information, rather than vague or unverified allegations. Board appointments of additional directors remain valid where authorised by the articles and within the prescribed numerical limit. Restrictions concerning managing agents do not apply where the relevant party acts only as an agent rather than as a statutory managing agent. Case-Laws Companies Law Thu, 23 Jun 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198214