https://www.taxtmi.com/caselaws?id=459153 The Delhi HC upheld CLB's decision regarding equal board representation for three shareholder groups (Bharti, Malhotra, and Gupta) holding one-third shares each. The court validated Mr. R.K. Malhotra's appointment as Managing Director, finding no oppression since he had functionally performed MD duties since March 1998. However, the court set aside cancellation of four Builder's agreements for office spaces LG 1-4 belonging to the Bharti Group, ruling it wrongful and oppressive as the group was unfairly singled out. Regarding rental payments by Oriental Bank of Commerce, the court held the bank liable for rent until 21.01.2008 when it offered to deposit keys in court. The court affirmed each group's right to equal board participation and director nomination rights. en-us Mon, 02 Mar 2015 00:00:00 +0530 Mon, 02 Dec 2024 21:07:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459153 The Delhi HC upheld CLB's decision regarding equal board representation for three shareholder groups (Bharti, Malhotra, and Gupta) holding one-third shares each. The court validated Mr. R.K. Malhotra's appointment as Managing Director, finding no oppression since he had functionally performed MD duties since March 1998. However, the court set aside cancellation of four Builder's agreements for office spaces LG 1-4 belonging to the Bharti Group, ruling it wrongful and oppressive as the group was unfairly singled out. Regarding rental payments by Oriental Bank of Commerce, the court held the bank liable for rent until 21.01.2008 when it offered to deposit keys in court. The court affirmed each group's right to equal board participation and director nomination rights. Case-Laws Companies Law Mon, 02 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459153