https://www.taxtmi.com/caselaws?id=311392 The Bombay HC dismissed company appeals challenging Company Law Board orders regarding shareholder exit and share valuation. The court held that under Sections 397-398 of Companies Act 1956, a petitioner cannot simultaneously pursue both exit with fair valuation and oppression/mismanagement proceedings. Once the appellant agreed to exit based on share valuation, the Company Law Board had authority under Section 402 to order valuation, which is enforceable as a court decree. Regarding duplicate share certificates issued without original certificates, the court found no prejudice to the appellant as duplicate certificates would be issued for her shares too. No question of law arose warranting interference with the Company Law Board's decision. en-us Tue, 11 Apr 2017 00:00:00 +0530 Sat, 23 Dec 2023 09:44:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311392 The Bombay HC dismissed company appeals challenging Company Law Board orders regarding shareholder exit and share valuation. The court held that under Sections 397-398 of Companies Act 1956, a petitioner cannot simultaneously pursue both exit with fair valuation and oppression/mismanagement proceedings. Once the appellant agreed to exit based on share valuation, the Company Law Board had authority under Section 402 to order valuation, which is enforceable as a court decree. Regarding duplicate share certificates issued without original certificates, the court found no prejudice to the appellant as duplicate certificates would be issued for her shares too. No question of law arose warranting interference with the Company Law Board's decision. Case-Laws Companies Law Tue, 11 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311392