https://www.taxtmi.com/caselaws?id=756487 Where a subsequent rights issue during pendency of an oppression and mismanagement petition could alter the existing shareholding position, the Tribunal granted interim protection by restraining further steps, directing the amounts collected to be kept in a separate account and not utilised, and ordering status quo on shareholding until final disposal of the main petition. The challenge to the earlier allotment dated 02.03.2024 and the alleged use of escrow funds was not finally decided in these applications because it overlapped with pending contempt proceedings; that issue was left to be considered there, subject to compliance disclosure of the allotment details and escrow accounts. en-us Wed, 12 Jun 2024 00:00:00 +0530 Sat, 03 Aug 2024 15:17:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756487 Where a subsequent rights issue during pendency of an oppression and mismanagement petition could alter the existing shareholding position, the Tribunal granted interim protection by restraining further steps, directing the amounts collected to be kept in a separate account and not utilised, and ordering status quo on shareholding until final disposal of the main petition. The challenge to the earlier allotment dated 02.03.2024 and the alleged use of escrow funds was not finally decided in these applications because it overlapped with pending contempt proceedings; that issue was left to be considered there, subject to compliance disclosure of the allotment details and escrow accounts. Case-Laws Companies Law Wed, 12 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756487