Consent terms in oppression proceedings bind parties and can resolve appellate challenges without merits adjudication, quashing contested findings.
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....Consent terms filed jointly in oppression and mismanagement proceedings were incorporated into the appellate disposition, making the settlement binding on the parties' inter se rights, liabilities and conduct. The appeal challenging findings that amendments to the articles of association and a rights issue were oppressive was allowed by consent, and those portions of the impugned order were quashed. No independent adjudication of the challenged merits occurred.....
TaxTMI