https://www.taxtmi.com/caselaws?id=200382 The court declared the resolutions passed on August 25, 1981, void and illegal. It directed the Swedish company to transfer 9% of its shares to existing shareholders other than the Swedish group, in compliance with Article 34 of the Articles of Association. A committee of management was established to oversee the company's affairs until a new board of directors is elected. The petitioners were awarded costs, emphasizing adherence to the FERA and the Articles of Association for fair and lawful company management. en-us Wed, 13 Oct 1982 00:00:00 +0530 Tue, 27 Mar 2018 14:21:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200382 The court declared the resolutions passed on August 25, 1981, void and illegal. It directed the Swedish company to transfer 9% of its shares to existing shareholders other than the Swedish group, in compliance with Article 34 of the Articles of Association. A committee of management was established to oversee the company's affairs until a new board of directors is elected. The petitioners were awarded costs, emphasizing adherence to the FERA and the Articles of Association for fair and lawful company management. Case-Laws Companies Law Wed, 13 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200382