https://www.taxtmi.com/caselaws?id=395259 The Tribunal upheld the legality of the allotment of 1,89,000 equity shares to Respondent No.6, finding it compliant with the Companies Act, 2013, and the Company's Articles of Association. The Tribunal deferred the validity of the Sale Deed to a civil court and rejected the Petitioners' claim for directorship, stating they lacked entitlement based on their lack of involvement in the Company's management and absence of contractual obligations. The Company Petition was dismissed, affirming the validity of the share allotment and denying the Petitioners' claims. en-us Tue, 14 Jan 2020 00:00:00 +0530 Thu, 14 May 2020 09:55:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395259 The Tribunal upheld the legality of the allotment of 1,89,000 equity shares to Respondent No.6, finding it compliant with the Companies Act, 2013, and the Company's Articles of Association. The Tribunal deferred the validity of the Sale Deed to a civil court and rejected the Petitioners' claim for directorship, stating they lacked entitlement based on their lack of involvement in the Company's management and absence of contractual obligations. The Company Petition was dismissed, affirming the validity of the share allotment and denying the Petitioners' claims. Case-Laws Companies Law Tue, 14 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395259