https://www.taxtmi.com/caselaws?id=287061 The Tribunal found the share allotments in 2007 and 2010 to be illegal and fraudulent, violating the Companies Act and Articles of Association. The allotments were canceled, and the company was directed to refund the amounts to the Respondents and rectify the register of members. The Tribunal also ordered a valuation of shares for the Petitioners' exit. Case TCP 96/2016 (Old CP No.42/2012) was concluded without costs. en-us Tue, 10 Jul 2018 00:00:00 +0530 Fri, 27 Mar 2020 09:49:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287061 The Tribunal found the share allotments in 2007 and 2010 to be illegal and fraudulent, violating the Companies Act and Articles of Association. The allotments were canceled, and the company was directed to refund the amounts to the Respondents and rectify the register of members. The Tribunal also ordered a valuation of shares for the Petitioners' exit. Case TCP 96/2016 (Old CP No.42/2012) was concluded without costs. Case-Laws Companies Law Tue, 10 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287061