https://www.taxtmi.com/caselaws?id=287269 Legal heirs of a deceased shareholder were held to have locus standi to maintain the company petition, because jurisdiction under the oppression and mismanagement provisions is equitable and maintainability is assessed on the position at filing; later developments did not defeat it. The Tribunal further found that the increase in authorised capital, fresh allotment of shares, and induction of additional directors formed a concerted course of conduct lacking probity, designed to exclude the estate's controlling interest and convert a dominant holding into a minority. It rejected objections based on limitation and acquiescence, held the acts oppressive, and granted consequential relief including rectification of the register, reconstitution of the board, and special audit. en-us Wed, 01 Aug 2018 00:00:00 +0530 Tue, 07 Apr 2020 09:56:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287269 Legal heirs of a deceased shareholder were held to have locus standi to maintain the company petition, because jurisdiction under the oppression and mismanagement provisions is equitable and maintainability is assessed on the position at filing; later developments did not defeat it. The Tribunal further found that the increase in authorised capital, fresh allotment of shares, and induction of additional directors formed a concerted course of conduct lacking probity, designed to exclude the estate's controlling interest and convert a dominant holding into a minority. It rejected objections based on limitation and acquiescence, held the acts oppressive, and granted consequential relief including rectification of the register, reconstitution of the board, and special audit. Case-Laws Companies Law Wed, 01 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287269