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Allegations of oppression and mismanagement in company; independent Chairman appointed amid investigation by Registrar and Income Tax.

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Full Text of the Document

X X   X X   Extracts   X X   X X

....Oppression and mismanagement - not permitted/given sufficient opportunity to be involved in the affairs/board meetings - allotment of shares at par without premium to Respondent and at premium to the Petitioners and no action was taken to rectify it - pending investigation with ROC & DIT(I) - sufficient to hold acts of oppression and mismanagement - appointed interim arrangement by appointing independent Chairman to see the affairs of the Company....

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