https://www.taxtmi.com/caselaws?id=198774 The petitioners' allegations of oppression and mismanagement in Indocan Engineering Systems Limited were considered by the Company Law Board. The CLB addressed issues related to board meetings, appointment/removal of nominee directors, maintainability of the petition, and alleged fraudulent inducement to invest. The CLB ruled that nominee directors should continue until the annual general meeting and granted the petitioners the right to appoint a nominee director as long as they hold 18% shares in the company. The petition was disposed of without costs, with specific directions on the nominee directors' continuation and rights. en-us Fri, 17 Sep 1999 00:00:00 +0530 Thu, 08 Feb 2018 18:24:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198774 The petitioners' allegations of oppression and mismanagement in Indocan Engineering Systems Limited were considered by the Company Law Board. The CLB addressed issues related to board meetings, appointment/removal of nominee directors, maintainability of the petition, and alleged fraudulent inducement to invest. The CLB ruled that nominee directors should continue until the annual general meeting and granted the petitioners the right to appoint a nominee director as long as they hold 18% shares in the company. The petition was disposed of without costs, with specific directions on the nominee directors' continuation and rights. Case-Laws Companies Law Fri, 17 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198774