https://www.taxtmi.com/caselaws?id=199243 The Board found in favor of the petitioners, holding more than 10% of the paid-up capital of the company, in their allegations of oppression and mismanagement under sections 397/398 of the Companies Act, 1956. The petitioners were allowed to subscribe to their proportionate shares from the 1999 allotment, reinstated as directors, and directed the company to manage its affairs in the interest of family shareholders. The Board emphasized the need for equitable treatment among family members in the closely held family company. The petition was disposed of without any order as to costs. en-us Thu, 07 Nov 2002 00:00:00 +0530 Fri, 23 Feb 2018 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199243 The Board found in favor of the petitioners, holding more than 10% of the paid-up capital of the company, in their allegations of oppression and mismanagement under sections 397/398 of the Companies Act, 1956. The petitioners were allowed to subscribe to their proportionate shares from the 1999 allotment, reinstated as directors, and directed the company to manage its affairs in the interest of family shareholders. The Board emphasized the need for equitable treatment among family members in the closely held family company. The petition was disposed of without any order as to costs. Case-Laws Companies Law Thu, 07 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199243