https://www.taxtmi.com/caselaws?id=198793 In a closely held company, directors must use the power to increase capital and allot shares for a proper corporate purpose, with full disclosure and fair notice to existing shareholders. An allotment made solely in favour of one faction, without convincing proof of business need and with the effect of reducing a controlling shareholder to a minority, is treated as oppressive and prejudicial conduct. Where such oppression is established, equitable relief may be granted to undo the impugned resolutions, restore the capital structure, and require a buyout on fair terms to end the misconduct. en-us Mon, 08 Nov 2004 00:00:00 +0530 Fri, 09 Feb 2018 10:09:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198793 In a closely held company, directors must use the power to increase capital and allot shares for a proper corporate purpose, with full disclosure and fair notice to existing shareholders. An allotment made solely in favour of one faction, without convincing proof of business need and with the effect of reducing a controlling shareholder to a minority, is treated as oppressive and prejudicial conduct. Where such oppression is established, equitable relief may be granted to undo the impugned resolutions, restore the capital structure, and require a buyout on fair terms to end the misconduct. Case-Laws Companies Law Mon, 08 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198793