https://www.taxtmi.com/caselaws?id=460656 Cancellation of an allotment that alters the register of members can be examined as a rectification claim under Section 59 of the Companies Act, 2013, because a challenge to such an allotment is in substance a challenge to entries made or continued without sufficient cause or in violation of law. An allotment directed in oppression and mismanagement proceedings under Sections 241 and 242 does not dispense with the mandatory procedure for a further issue of shares under Section 62(1)(c), including authorisation, valuation, and compliance with the connected rules. The Tribunal's earlier directions did not override those statutory safeguards, so the challenge under Section 59 was maintainable and compliance with Section 62(1)(c) remained required. en-us Fri, 15 Sep 2023 00:00:00 +0530 Fri, 07 Feb 2025 16:53:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460656 Cancellation of an allotment that alters the register of members can be examined as a rectification claim under Section 59 of the Companies Act, 2013, because a challenge to such an allotment is in substance a challenge to entries made or continued without sufficient cause or in violation of law. An allotment directed in oppression and mismanagement proceedings under Sections 241 and 242 does not dispense with the mandatory procedure for a further issue of shares under Section 62(1)(c), including authorisation, valuation, and compliance with the connected rules. The Tribunal's earlier directions did not override those statutory safeguards, so the challenge under Section 59 was maintainable and compliance with Section 62(1)(c) remained required. Case-Laws Companies Law Fri, 15 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460656