https://www.taxtmi.com/caselaws?id=199439 The court found in favor of the petitioners, majority shareholders, in a case involving allegations of fraudulent acts by the 1st respondent. The court ruled that the petition was maintainable under Sections 397/398, rejecting the respondent's argument that only minority shareholders could invoke these sections. The court upheld the removal of the 1st respondent as a director due to breach of fiduciary duties and ordered the 1st respondent to sell shares to the petitioners. The judgment aimed to resolve the conflict between the shareholder groups by directing the 1st respondent to exit the company, ensuring its survival and effective management by the petitioners. en-us Tue, 02 Dec 2003 00:00:00 +0530 Wed, 28 Feb 2018 16:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199439 The court found in favor of the petitioners, majority shareholders, in a case involving allegations of fraudulent acts by the 1st respondent. The court ruled that the petition was maintainable under Sections 397/398, rejecting the respondent's argument that only minority shareholders could invoke these sections. The court upheld the removal of the 1st respondent as a director due to breach of fiduciary duties and ordered the 1st respondent to sell shares to the petitioners. The judgment aimed to resolve the conflict between the shareholder groups by directing the 1st respondent to exit the company, ensuring its survival and effective management by the petitioners. Case-Laws Companies Law Tue, 02 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199439