https://www.taxtmi.com/caselaws?id=356262 A company petition for oppression and mismanagement was held not maintainable because several petitioners claiming through share transfers were not registered members. The transfer forms were incomplete in law, and an adhesive stamp not cancelled as required by stamp law rendered the instrument unstamped, defeating registration of the transfer and the statutory membership threshold. On merits, the notices and resolutions for capital increase, borrowing, mortgage, debentures and share issue were found to be duly supported by business expansion needs, and the allegations of misuse of funds and false disclosures did not establish oppressive or prejudicial conduct. Limited directions were issued for resolving the shareholding dispute and fresh compliance if registration was sought. en-us Wed, 10 Jan 2018 00:00:00 +0530 Wed, 28 Feb 2018 06:30:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356262 A company petition for oppression and mismanagement was held not maintainable because several petitioners claiming through share transfers were not registered members. The transfer forms were incomplete in law, and an adhesive stamp not cancelled as required by stamp law rendered the instrument unstamped, defeating registration of the transfer and the statutory membership threshold. On merits, the notices and resolutions for capital increase, borrowing, mortgage, debentures and share issue were found to be duly supported by business expansion needs, and the allegations of misuse of funds and false disclosures did not establish oppressive or prejudicial conduct. Limited directions were issued for resolving the shareholding dispute and fresh compliance if registration was sought. Case-Laws Companies Law Wed, 10 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356262