https://www.taxtmi.com/caselaws?id=285551 The judgment allows the petitioner to proceed with the company petition under Sections 397 and 398 of the Companies Act, as the petitioner's right to apply under Section 399 is upheld. The validity of the conversion of redeemable cumulative preference shares (RCPS) into equity shares and the allotment to R.N. Shetty Family Trust must be examined further in the main proceedings before the petition's maintainability can be determined. The parties are instructed to complete pleadings, and all relevant parties will have the opportunity to present their case before a final decision on the petition's maintainability is made. en-us Thu, 13 Mar 2008 00:00:00 +0530 Fri, 17 Jan 2020 13:27:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285551 The judgment allows the petitioner to proceed with the company petition under Sections 397 and 398 of the Companies Act, as the petitioner's right to apply under Section 399 is upheld. The validity of the conversion of redeemable cumulative preference shares (RCPS) into equity shares and the allotment to R.N. Shetty Family Trust must be examined further in the main proceedings before the petition's maintainability can be determined. The parties are instructed to complete pleadings, and all relevant parties will have the opportunity to present their case before a final decision on the petition's maintainability is made. Case-Laws Companies Law Thu, 13 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285551