https://www.taxtmi.com/caselaws?id=310396 The CLB dismissed the company petition as the petitioner failed to establish valid shareholding, lacking the locus standi to seek reliefs under sections 397 and 398 of the Companies Act, 1956. The board found that the alleged transfer of 23,200 shares was invalid due to non-compliance with the articles of association, as essential requirements for share transfer were not met. Consequently, the petitioner's claims of oppression and mismanagement could not be entertained. The application for impleadment was also dismissed, and the interim order dated 24.12.2007 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 The CLB dismissed the company petition as the petitioner failed to establish valid shareholding, lacking the locus standi to seek reliefs under sections 397 and 398 of the Companies Act, 1956. The board found that the alleged transfer of 23,200 shares was invalid due to non-compliance with the articles of association, as essential requirements for share transfer were not met. Consequently, the petitioner's claims of oppression and mismanagement could not be entertained. The application for impleadment was also dismissed, and the interim order dated 24.12.2007 was vacated. Case-Laws Companies Law Thu, 17 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310396