https://www.taxtmi.com/caselaws?id=310395 The Company Law Board dismissed the petition due to lack of maintainability, as the petitioners failed to meet the requirements of Section 399(1) of the Companies Act, 1956. The Board determined that the petitioners were not members of the company at the time of filing the petition, and the withdrawal of consent by petitioner Nos. 7 to 11, who held 17.1% equity shares, further invalidated the petition. Consequently, the Board did not address the merits of the allegations, and no order as to costs was made. en-us Thu, 27 Sep 2007 00:00:00 +0530 Sat, 21 Oct 2023 17:13:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310395 The Company Law Board dismissed the petition due to lack of maintainability, as the petitioners failed to meet the requirements of Section 399(1) of the Companies Act, 1956. The Board determined that the petitioners were not members of the company at the time of filing the petition, and the withdrawal of consent by petitioner Nos. 7 to 11, who held 17.1% equity shares, further invalidated the petition. Consequently, the Board did not address the merits of the allegations, and no order as to costs was made. Case-Laws Companies Law Thu, 27 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310395