https://www.taxtmi.com/caselaws?id=282571 The court dismissed the petition, ruling that the petitioners were not entitled to invoke discretionary jurisdiction under Section 155 of the Companies Act. The court found no factual basis for the Section 108 violation, determined that the transaction did not contravene Article 7 of the articles of association, and deemed the allegations of bad faith irrelevant to the proceedings. The petition was dismissed without costs, and the application (C.A. No. 185 of 1991) was rejected. en-us Fri, 01 Mar 1991 00:00:00 +0530 Tue, 13 Aug 2019 14:12:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282571 The court dismissed the petition, ruling that the petitioners were not entitled to invoke discretionary jurisdiction under Section 155 of the Companies Act. The court found no factual basis for the Section 108 violation, determined that the transaction did not contravene Article 7 of the articles of association, and deemed the allegations of bad faith irrelevant to the proceedings. The petition was dismissed without costs, and the application (C.A. No. 185 of 1991) was rejected. Case-Laws Companies Law Fri, 01 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282571