https://www.taxtmi.com/caselaws?id=199001 The Board found that the acts alleged were oppressive to the majority by the minority, justifying winding up of the company under the just and equitable ground. The additional share capital allotted to the first respondent was deemed oppressive and was ordered to be canceled or transferred proportionately to the petitioners. Respondents Nos. 2 and 3 were directed to cease as directors, while Petitioners Nos. 1 and 2 were to continue as directors. The transfers of shares to the third respondent and from the first respondent to the second respondent were canceled. The company's bank accounts were to be frozen, and the bankers were to act as per the new board's decisions. en-us Mon, 31 Aug 1998 00:00:00 +0530 Fri, 16 Feb 2018 14:23:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199001 The Board found that the acts alleged were oppressive to the majority by the minority, justifying winding up of the company under the just and equitable ground. The additional share capital allotted to the first respondent was deemed oppressive and was ordered to be canceled or transferred proportionately to the petitioners. Respondents Nos. 2 and 3 were directed to cease as directors, while Petitioners Nos. 1 and 2 were to continue as directors. The transfers of shares to the third respondent and from the first respondent to the second respondent were canceled. The company's bank accounts were to be frozen, and the bankers were to act as per the new board's decisions. Case-Laws Companies Law Mon, 31 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199001