https://www.taxtmi.com/highlights?id=81802 The petition alleges oppression and mismanagement by the company's majority shareholders against the petitioners, who were removed as directors through an Extraordinary General Meeting (EGM). The key points are: The burden is on the petitioners to prove oppressive conduct u/s 242. The EGM notice for removal complied with legal requirements, and the meeting was validly held. The majority shareholders' decision to remove directors cannot be judicially scrutinized as it is part of corporate democracy. Mere inconvenience caused by the legal process doesn't negate its validity. Oppression requires continuous wrongful acts by the majority against the minority, not just lack of confidence. The petitioners failed to prove mismanagement or likelihoo..... en-us Mon, 30 Sep 2024 13:45:07 +0530 Mon, 30 Sep 2024 13:45:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=81802 The petition alleges oppression and mismanagement by the company's majority shareholders against the petitioners, who were removed as directors through an Extraordinary General Meeting (EGM). The key points are: The burden is on the petitioners to prove oppressive conduct u/s 242. The EGM notice for removal complied with legal requirements, and the meeting was validly held. The majority shareholders' decision to remove directors cannot be judicially scrutinized as it is part of corporate democracy. Mere inconvenience caused by the legal process doesn't negate its validity. Oppression requires continuous wrongful acts by the majority against the minority, not just lack of confidence. The petitioners failed to prove mismanagement or likelihoo..... Highlights Companies Law Mon, 30 Sep 2024 13:45:07 +0530 https://www.taxtmi.com/highlights?id=81802