https://www.taxtmi.com/caselaws?id=363151 The NCLT found in favor of the Petitioners on various issues, including the validity of amendments curing technical defects, the binding nature of the Letter of Intent and draft Shareholders Agreement, entitlement to file a petition under Sections 397 and 398 without arbitration, and the non-provision of share certificates being oppressive. The NCLT invalidated certain actions such as the issue of equity shares and convertible debentures without proper notice and the removal of a director. The Appellate Tribunal ordered the auditing of accounts, assessment of fair value of shares, restoration of shareholding status, and set aside disputed allotments and resolutions, awarding costs to the Appellants. en-us Wed, 25 Apr 2018 00:00:00 +0530 Fri, 06 Jul 2018 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363151 The NCLT found in favor of the Petitioners on various issues, including the validity of amendments curing technical defects, the binding nature of the Letter of Intent and draft Shareholders Agreement, entitlement to file a petition under Sections 397 and 398 without arbitration, and the non-provision of share certificates being oppressive. The NCLT invalidated certain actions such as the issue of equity shares and convertible debentures without proper notice and the removal of a director. The Appellate Tribunal ordered the auditing of accounts, assessment of fair value of shares, restoration of shareholding status, and set aside disputed allotments and resolutions, awarding costs to the Appellants. Case-Laws Companies Law Wed, 25 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363151