https://www.taxtmi.com/caselaws?id=198974 In a closely held family company, transmission of a deceased member's shares required proof of entitlement under the articles; absent a succession certificate, board approval or reliable evidence of family arrangement, the transmission and related rights shares were invalid. Excluding only one family member from a rights issue, while allotting the others and altering control, amounted to oppressive conduct because fairness required that his willingness to subscribe be ascertained before allotment. A continuing change in shareholding and its effect on shareholder rights was not barred by limitation. The register was to be rectified and consequential allotment-related relief granted. en-us Fri, 20 Apr 2001 00:00:00 +0530 Fri, 16 Feb 2018 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198974 In a closely held family company, transmission of a deceased member's shares required proof of entitlement under the articles; absent a succession certificate, board approval or reliable evidence of family arrangement, the transmission and related rights shares were invalid. Excluding only one family member from a rights issue, while allotting the others and altering control, amounted to oppressive conduct because fairness required that his willingness to subscribe be ascertained before allotment. A continuing change in shareholding and its effect on shareholder rights was not barred by limitation. The register was to be rectified and consequential allotment-related relief granted. Case-Laws Companies Law Fri, 20 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198974