https://www.taxtmi.com/caselaws?id=289626 Oppression allegations in a private company were not established where the additional director's appointment was supported by board participation and the investor's legitimate need for board representation. Notices of extraordinary general meetings were proved, the authorised-capital increase did not require the asserted special resolution, and the rights issue reflected genuine funding needs and conversion of unsecured loans into equity rather than an exclusionary device. Although registered-office shifting procedures were not shown to have been strictly followed, the petitioner's knowledge and consent and the company's benefit prevented the move from being treated as oppressive. Equitable relief allowed either subscription to the rights shares or exit on valuation terms, including repayment of the unsecured loan with interest. en-us Mon, 02 Feb 2009 00:00:00 +0530 Mon, 10 Aug 2020 12:10:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289626 Oppression allegations in a private company were not established where the additional director's appointment was supported by board participation and the investor's legitimate need for board representation. Notices of extraordinary general meetings were proved, the authorised-capital increase did not require the asserted special resolution, and the rights issue reflected genuine funding needs and conversion of unsecured loans into equity rather than an exclusionary device. Although registered-office shifting procedures were not shown to have been strictly followed, the petitioner's knowledge and consent and the company's benefit prevented the move from being treated as oppressive. Equitable relief allowed either subscription to the rights shares or exit on valuation terms, including repayment of the unsecured loan with interest. Case-Laws Companies Law Mon, 02 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289626