https://www.taxtmi.com/caselaws?id=384031 The Tribunal dismissed the appeal, finding that the reduction of the appellant's share capital and allotment of 100 shares were not oppressive acts. The appellant was deemed ineligible to file a petition under Section 241 of the Companies Act, 2013, due to holding less than 10% shareholding. The Tribunal upheld the validity of the takeover agreement and concluded that the appellant had agreed to the transfer of the firm to the respondent company. Compliance with tax laws and the basis for allotment of shares were also found to be in order. en-us Wed, 03 Jul 2019 00:00:00 +0530 Mon, 05 Aug 2019 07:50:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384031 The Tribunal dismissed the appeal, finding that the reduction of the appellant's share capital and allotment of 100 shares were not oppressive acts. The appellant was deemed ineligible to file a petition under Section 241 of the Companies Act, 2013, due to holding less than 10% shareholding. The Tribunal upheld the validity of the takeover agreement and concluded that the appellant had agreed to the transfer of the firm to the respondent company. Compliance with tax laws and the basis for allotment of shares were also found to be in order. Case-Laws Companies Law Wed, 03 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384031