https://www.taxtmi.com/caselaws?id=441284 In a pending oppression and mismanagement proceeding, the legal representatives of a deceased shareholder may be substituted to continue the action. The proceeding was treated as representative in character, and on death the estate and related rights in the shares vest in the legal heirs. Rule 53 of the NCLT Rules, 2016 permits substitution of the deceased party by the legal representative, and continuing membership in the company is not required before coming on record. A later transfer of inherited shares by one heir did not defeat substitution, because the application concerned continuation of the existing proceeding. The substitution order was sustained. en-us Tue, 01 Aug 2023 00:00:00 +0530 Fri, 04 Aug 2023 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441284 In a pending oppression and mismanagement proceeding, the legal representatives of a deceased shareholder may be substituted to continue the action. The proceeding was treated as representative in character, and on death the estate and related rights in the shares vest in the legal heirs. Rule 53 of the NCLT Rules, 2016 permits substitution of the deceased party by the legal representative, and continuing membership in the company is not required before coming on record. A later transfer of inherited shares by one heir did not defeat substitution, because the application concerned continuation of the existing proceeding. The substitution order was sustained. Case-Laws Companies Law Tue, 01 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441284