https://www.taxtmi.com/caselaws?id=302236 Further share allotments in a closely held company may constitute oppression where they disrupt equal participation solely to alter control. Where the company genuinely requires additional funds, the other group contributes those funds, and the diluted shareholders decline an opportunity to restore parity through further contribution and loan conversion, cancellation of the allotments may be refused, particularly if the challenge appears oblique. Relief for fraudulent conduct or misfeasance requires material demonstrating fraud in the company's management; allegations concerning an industrial unit and related proceedings alone do not satisfy that threshold. The directorship dispute remains subject to determination in pending civil litigation. en-us Thu, 02 Dec 2004 00:00:00 +0530 Wed, 11 May 2022 14:23:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302236 Further share allotments in a closely held company may constitute oppression where they disrupt equal participation solely to alter control. Where the company genuinely requires additional funds, the other group contributes those funds, and the diluted shareholders decline an opportunity to restore parity through further contribution and loan conversion, cancellation of the allotments may be refused, particularly if the challenge appears oblique. Relief for fraudulent conduct or misfeasance requires material demonstrating fraud in the company's management; allegations concerning an industrial unit and related proceedings alone do not satisfy that threshold. The directorship dispute remains subject to determination in pending civil litigation. Case-Laws Companies Law Thu, 02 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302236