https://www.taxtmi.com/caselaws?id=278727 The Tribunal found the share allotments made on 25.04.2008 and 11.08.2010, the continuance of Respondent No. 3 as a Director, and the appointment of Respondent No. 4 as a Director to be illegal and invalid. Consequently, the share allotments, Board Meetings, EoGMs, and rights offer on specific dates were set aside. The 1st Petitioner was appointed as Managing Director, and the shareholding pattern was to be restored to a previous date. An independent Auditor was to assess share values, with purchasing priority given to the Petitioner. No changes in the Board or shareholding were permitted until this process was completed. en-us Thu, 07 Dec 2017 00:00:00 +0530 Tue, 19 Feb 2019 07:25:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278727 The Tribunal found the share allotments made on 25.04.2008 and 11.08.2010, the continuance of Respondent No. 3 as a Director, and the appointment of Respondent No. 4 as a Director to be illegal and invalid. Consequently, the share allotments, Board Meetings, EoGMs, and rights offer on specific dates were set aside. The 1st Petitioner was appointed as Managing Director, and the shareholding pattern was to be restored to a previous date. An independent Auditor was to assess share values, with purchasing priority given to the Petitioner. No changes in the Board or shareholding were permitted until this process was completed. Case-Laws Companies Law Thu, 07 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278727