https://www.taxtmi.com/caselaws?id=310025 The court allowed the main petition under sections 397, 398, and 402 of the Companies Act, 1956 to proceed despite withdrawals by some petitioners. It rejected the preliminary objection on maintainability with only one petitioner remaining, emphasizing judgment based on facts at the time of presentation. The court dismissed allegations of abuse of court process by the remaining petitioner and accepted the respondents' offer to purchase shares. Further proceedings were scheduled to record evidence and address related applications, with decisions on other matters deferred to a later date and no costs awarded for the abuse of court process allegation. en-us Wed, 05 Feb 1964 00:00:00 +0530 Tue, 03 Oct 2023 18:34:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310025 The court allowed the main petition under sections 397, 398, and 402 of the Companies Act, 1956 to proceed despite withdrawals by some petitioners. It rejected the preliminary objection on maintainability with only one petitioner remaining, emphasizing judgment based on facts at the time of presentation. The court dismissed allegations of abuse of court process by the remaining petitioner and accepted the respondents' offer to purchase shares. Further proceedings were scheduled to record evidence and address related applications, with decisions on other matters deferred to a later date and no costs awarded for the abuse of court process allegation. Case-Laws Companies Law Wed, 05 Feb 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310025