https://www.taxtmi.com/caselaws?id=280108 Default in payment of statutory dues and related managerial lapses does not, by itself, amount to oppression or mismanagement under the Companies Act, 1956; it must form part of a broader oppressive course of conduct, and that conclusion was treated as sustainable. A serious challenge to share allotment in New Terai, based on alleged non-compliance with company law and SEBI requirements, required merits examination because a defective allotment could be void and affect minority voting rights; the failure to consider that challenge made the relief unsustainable. In a closely held quasi-partnership setting, incomplete buyout relief without a workable time frame or default mechanism was also found inadequate, leading to remand for fresh consideration. en-us Mon, 02 Jul 2007 00:00:00 +0530 Sat, 20 Apr 2019 16:09:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280108 Default in payment of statutory dues and related managerial lapses does not, by itself, amount to oppression or mismanagement under the Companies Act, 1956; it must form part of a broader oppressive course of conduct, and that conclusion was treated as sustainable. A serious challenge to share allotment in New Terai, based on alleged non-compliance with company law and SEBI requirements, required merits examination because a defective allotment could be void and affect minority voting rights; the failure to consider that challenge made the relief unsustainable. In a closely held quasi-partnership setting, incomplete buyout relief without a workable time frame or default mechanism was also found inadequate, leading to remand for fresh consideration. Case-Laws Indian Laws Mon, 02 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280108