https://www.taxtmi.com/caselaws?id=405853 Removal of the executive chairman of Tata Sons, even if wrongful, did not amount to oppression or mismanagement and did not justify reinstatement after expiry of the term. Affirmative voting rights for directors nominated by Tata Trusts were valid because those directors owed fiduciary duties to both the nominating trusts and the company. Tata Sons' reconversion to a private company satisfied the statutory criteria and was lawful. The SP Group had no statutory or contractual entitlement to proportional board representation based on a quasi-partnership claim. Article 75, requiring a member to transfer shares when demanded, remained valid as a shareholder-agreed contractual exit mechanism. en-us Fri, 26 Mar 2021 00:00:00 +0530 Wed, 27 Nov 2024 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405853 Removal of the executive chairman of Tata Sons, even if wrongful, did not amount to oppression or mismanagement and did not justify reinstatement after expiry of the term. Affirmative voting rights for directors nominated by Tata Trusts were valid because those directors owed fiduciary duties to both the nominating trusts and the company. Tata Sons' reconversion to a private company satisfied the statutory criteria and was lawful. The SP Group had no statutory or contractual entitlement to proportional board representation based on a quasi-partnership claim. Article 75, requiring a member to transfer shares when demanded, remained valid as a shareholder-agreed contractual exit mechanism. Case-Laws Companies Law Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405853