https://www.taxtmi.com/caselaws?id=392318 The National Company Law Appellate Tribunal affirmed the NCLT's decision, dismissing the appeal and ruling in favor of the Respondent. The increase in share capital without proper procedure and major shareholder consent was deemed illegal and oppressive, leading to dilution of the Respondent's shareholding. Allegations of oppression and mismanagement, including the appointment of Smt Shashi Gupta without consent and siphoning of funds, were upheld. The appointment of an independent auditor and valuer was ordered to address financial mismanagement concerns. The judgment emphasized the necessity for corrective actions to rectify non-compliance and irregularities within the company. en-us Mon, 20 Jan 2020 00:00:00 +0530 Wed, 06 May 2020 16:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392318 The National Company Law Appellate Tribunal affirmed the NCLT's decision, dismissing the appeal and ruling in favor of the Respondent. The increase in share capital without proper procedure and major shareholder consent was deemed illegal and oppressive, leading to dilution of the Respondent's shareholding. Allegations of oppression and mismanagement, including the appointment of Smt Shashi Gupta without consent and siphoning of funds, were upheld. The appointment of an independent auditor and valuer was ordered to address financial mismanagement concerns. The judgment emphasized the necessity for corrective actions to rectify non-compliance and irregularities within the company. Case-Laws Companies Law Mon, 20 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392318