https://www.taxtmi.com/caselaws?id=381254 The NCLT found the removal of the 1st respondent as Director invalid due to procedural irregularities but upheld the removal as Managing Director. Compensation of Rs. 105 lakhs was awarded for loss of office, with the direction to purchase shares. The Financial Collaboration Agreement was deemed non-binding, and allegations of oppression and mismanagement were not substantiated. The NCLT's decision was upheld on appeal. en-us Tue, 07 May 2019 00:00:00 +0530 Wed, 12 Jun 2019 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381254 The NCLT found the removal of the 1st respondent as Director invalid due to procedural irregularities but upheld the removal as Managing Director. Compensation of Rs. 105 lakhs was awarded for loss of office, with the direction to purchase shares. The Financial Collaboration Agreement was deemed non-binding, and allegations of oppression and mismanagement were not substantiated. The NCLT's decision was upheld on appeal. Case-Laws Companies Law Tue, 07 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381254