https://www.taxtmi.com/caselaws?id=791079 For proceedings under Sections 397 and 398 of the Companies Act, 1956, membership is not confined to formal entry in the register of members. The expression "member" has a wider ambit, and equitable jurisdiction under these provisions allows maintainability to be assessed on substantive recognition of shareholder status and proprietary interest. Where the company accepted and used the person's investment, and contemporaneous correspondence and conciliation materials treated him as a stakeholder, he could be treated as a member despite the absence of formal registration. The person was therefore entitled to maintain the oppression and mismanagement proceedings. en-us Mon, 04 May 2026 00:00:00 +0530 Wed, 06 May 2026 08:32:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791079 For proceedings under Sections 397 and 398 of the Companies Act, 1956, membership is not confined to formal entry in the register of members. The expression "member" has a wider ambit, and equitable jurisdiction under these provisions allows maintainability to be assessed on substantive recognition of shareholder status and proprietary interest. Where the company accepted and used the person's investment, and contemporaneous correspondence and conciliation materials treated him as a stakeholder, he could be treated as a member despite the absence of formal registration. The person was therefore entitled to maintain the oppression and mismanagement proceedings. Case-Laws Companies Law Mon, 04 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791079