https://www.taxtmi.com/caselaws?id=310396 Valid shareholding is a threshold requirement for seeking oppression and mismanagement relief under the Companies Act, 1956. Transfer of 23,200 shares was treated as invalid because the required conditions under the articles of association-including majority board approval, payment of fair value, written transfer notice and fair-value determination-were not established. The absence of original share certificates, payment evidence and consistent assertions of shareholding further undermined the claimant's status as a member. Without valid membership, the claimant lacked locus standi to invoke relief for oppression and mismanagement; the company petition and impleadment application were dismissed, and the interim order was vacated. en-us Thu, 17 Apr 2008 00:00:00 +0530 Sat, 21 Oct 2023 17:43:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310396 Valid shareholding is a threshold requirement for seeking oppression and mismanagement relief under the Companies Act, 1956. Transfer of 23,200 shares was treated as invalid because the required conditions under the articles of association-including majority board approval, payment of fair value, written transfer notice and fair-value determination-were not established. The absence of original share certificates, payment evidence and consistent assertions of shareholding further undermined the claimant's status as a member. Without valid membership, the claimant lacked locus standi to invoke relief for oppression and mismanagement; the company petition and impleadment application were dismissed, and the interim order was vacated. Case-Laws Companies Law Thu, 17 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310396