https://www.taxtmi.com/caselaws?id=405333 The Tribunal found the allotment of 1,10,00,000 equity shares to the 2nd Respondent to be illegal and oppressive, directing their cancellation and rectification of the register. It emphasized the need for an independent valuation of shares before any future allotment, in compliance with statutory provisions. The request for appointing an Independent Auditor was declined. The case was disposed of with these directions. en-us Wed, 10 Mar 2021 00:00:00 +0530 Thu, 18 Mar 2021 09:31:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405333 The Tribunal found the allotment of 1,10,00,000 equity shares to the 2nd Respondent to be illegal and oppressive, directing their cancellation and rectification of the register. It emphasized the need for an independent valuation of shares before any future allotment, in compliance with statutory provisions. The request for appointing an Independent Auditor was declined. The case was disposed of with these directions. Case-Laws Companies Law Wed, 10 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405333