https://www.taxtmi.com/caselaws?id=385643 The Tribunal declared resolutions passed by certain respondents as invalid due to violations of the Companies Act, 1956. An independent chairman and auditor were appointed to investigate the company's affairs and assess its liabilities and assets. Statutory violations were found, leading to recommendations for prosecution. Share transfer actions were deemed illegal, and allegations of mismanagement and oppression were noted. A valuation report was deemed binding, allowing parties to buy/sell shares based on it. The board of directors was restored, and parties were advised to resolve disputes amicably. No costs were awarded. en-us Thu, 24 Jan 2019 00:00:00 +0530 Wed, 11 Sep 2019 07:48:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385643 The Tribunal declared resolutions passed by certain respondents as invalid due to violations of the Companies Act, 1956. An independent chairman and auditor were appointed to investigate the company's affairs and assess its liabilities and assets. Statutory violations were found, leading to recommendations for prosecution. Share transfer actions were deemed illegal, and allegations of mismanagement and oppression were noted. A valuation report was deemed binding, allowing parties to buy/sell shares based on it. The board of directors was restored, and parties were advised to resolve disputes amicably. No costs were awarded. Case-Laws Companies Law Thu, 24 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385643