https://www.taxtmi.com/caselaws?id=381955 The NCLT upheld the appointments of Respondents 6 and 7 as Directors despite irregularities, directing fresh decisions by the company's members. The transfer of 9040 shares was set aside due to procedural lapses but acknowledged consideration payment, requiring a fresh decision. The resignation of Respondent 20 was deemed inconclusive, restoring the original Board of Directors. The appointments of Respondents 3 and 8 were upheld for business continuity, with future appointments mandated to follow proper procedures. The rights issue of 27081 equity shares was upheld for company expansion, with the appeal dismissed, affirming the NCLT's order. en-us Tue, 16 Apr 2019 00:00:00 +0530 Sat, 22 Jun 2019 07:45:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381955 The NCLT upheld the appointments of Respondents 6 and 7 as Directors despite irregularities, directing fresh decisions by the company's members. The transfer of 9040 shares was set aside due to procedural lapses but acknowledged consideration payment, requiring a fresh decision. The resignation of Respondent 20 was deemed inconclusive, restoring the original Board of Directors. The appointments of Respondents 3 and 8 were upheld for business continuity, with future appointments mandated to follow proper procedures. The rights issue of 27081 equity shares was upheld for company expansion, with the appeal dismissed, affirming the NCLT's order. Case-Laws Companies Law Tue, 16 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381955