https://www.taxtmi.com/caselaws?id=403173 The Tribunal held that the petition was not time-barred due to the continuous and recurring impact of the wrongful act of increasing authorized share capital without proper notice. It deemed the increase in shares and subsequent allotments illegal, setting aside filings and restoring the shareholding pattern. The Register of Members was to be rectified, reflecting the original capital and subscribers. The Appellants were directed to issue additional shares to specific respondents, restoring their shareholding to 2007 levels within three months. No costs were awarded. en-us Tue, 19 Jan 2021 00:00:00 +0530 Thu, 21 Jan 2021 09:53:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403173 The Tribunal held that the petition was not time-barred due to the continuous and recurring impact of the wrongful act of increasing authorized share capital without proper notice. It deemed the increase in shares and subsequent allotments illegal, setting aside filings and restoring the shareholding pattern. The Register of Members was to be rectified, reflecting the original capital and subscribers. The Appellants were directed to issue additional shares to specific respondents, restoring their shareholding to 2007 levels within three months. No costs were awarded. Case-Laws Companies Law Tue, 19 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403173