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    <title>2006 (7) TMI 705 - COMPANY LAW BOARD, CHENNAI</title>
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    <description>Oppression and mismanagement arose from defective notice of the eleventh annual general meeting, irregular rights-share allotment, exclusion of long-serving contributors from the board, invalid director appointments, and improper share transfers. Certificates of posting without supporting dispatch evidence did not establish service of meeting notice. The further share issue was void because it breached an earlier order, lacked full committee participation, and did not satisfy disclosure and preferential-allotment requirements. Appointment of multiple directors through a single resolution was invalid, as were share transfers completed without required duplicate certificates. Breaches of fiduciary duty, unreliable minutes, deficient statutory records, undisclosed interests, and failure to recover Investigation Center dues supported findings of oppressive and prejudicial conduct. A supervised annual general meeting was directed.</description>
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      <link>https://www.taxtmi.com/caselaws?id=198883</link>
      <description>Oppression and mismanagement arose from defective notice of the eleventh annual general meeting, irregular rights-share allotment, exclusion of long-serving contributors from the board, invalid director appointments, and improper share transfers. Certificates of posting without supporting dispatch evidence did not establish service of meeting notice. The further share issue was void because it breached an earlier order, lacked full committee participation, and did not satisfy disclosure and preferential-allotment requirements. Appointment of multiple directors through a single resolution was invalid, as were share transfers completed without required duplicate certificates. Breaches of fiduciary duty, unreliable minutes, deficient statutory records, undisclosed interests, and failure to recover Investigation Center dues supported findings of oppressive and prejudicial conduct. A supervised annual general meeting was directed.</description>
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