https://www.taxtmi.com/caselaws?id=459556 A shareholder challenge based on oppression and mismanagement failed where the record showed the amended articles and shareholders' arrangements were acted upon for years, the shareholder offered his shares, accepted the sale consideration, resigned, and issued a no-claim declaration. Allegations of coercion in share redemption and sale, as well as absence of notice of board meetings, did not establish prejudice or unlawful corporate action. The appellate scrutiny of the Company Law Board order also found no perversity, illegality, or material error; a procedural irregularity in pronouncing the order did not affect the merits. The dispute confirms that voluntary conduct under binding corporate arrangements weakens later claims of oppression or mismanagement absent proof of prejudice or illegality. en-us Wed, 11 Jul 2012 00:00:00 +0530 Wed, 18 Dec 2024 13:18:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459556 A shareholder challenge based on oppression and mismanagement failed where the record showed the amended articles and shareholders' arrangements were acted upon for years, the shareholder offered his shares, accepted the sale consideration, resigned, and issued a no-claim declaration. Allegations of coercion in share redemption and sale, as well as absence of notice of board meetings, did not establish prejudice or unlawful corporate action. The appellate scrutiny of the Company Law Board order also found no perversity, illegality, or material error; a procedural irregularity in pronouncing the order did not affect the merits. The dispute confirms that voluntary conduct under binding corporate arrangements weakens later claims of oppression or mismanagement absent proof of prejudice or illegality. Case-Laws Companies Law Wed, 11 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459556