https://www.taxtmi.com/caselaws?id=402156 The Tribunal granted the applicant a waiver of requirements under Section 244(1) of the Companies Act, 2013, allowing the petition to proceed despite not meeting the threshold shareholding. It found the removal of the applicant from the position of Managing Director unlawful, emphasizing the lack of due process. The Tribunal noted allegations of oppression and mismanagement, highlighting the need for further inquiry. It concluded that the applicant established a prima facie case for waiver and directed the petition to be listed for a detailed hearing, without prejudicing the case's merits. en-us Wed, 22 Jul 2020 00:00:00 +0530 Mon, 04 Jan 2021 14:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402156 The Tribunal granted the applicant a waiver of requirements under Section 244(1) of the Companies Act, 2013, allowing the petition to proceed despite not meeting the threshold shareholding. It found the removal of the applicant from the position of Managing Director unlawful, emphasizing the lack of due process. The Tribunal noted allegations of oppression and mismanagement, highlighting the need for further inquiry. It concluded that the applicant established a prima facie case for waiver and directed the petition to be listed for a detailed hearing, without prejudicing the case's merits. Case-Laws Companies Law Wed, 22 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402156