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1 - 6 of 6 (0.23 seconds)Section 81 in The Companies Act, 1956 [Entire Act]
Rashmi Seth vs Chemon (India) Pvt. Ltd. And Ors. on 4 August, 1992
In Rashmi Seth v. Chemon (India) Pvt. Ltd. 82 CC 563, this Board has held that if the shares are issued by directors not for the benefit of the company but simply and solely for the purpose of consolidating and improving their voting power to the exclusion of ' the existing majority shareholders, then, the same is a grave act of oppression.
Section 397 in The Companies Act, 1956 [Entire Act]
Section 398 in The Companies Act, 1956 [Entire Act]
M.K. Haridas And Ors. vs Asal Malabar Beedi Depot Pvt. Ltd. And ... on 12 February, 2002
Likewise, in M.K. Haridas v. Asal Malabar VD Depot Pvt. Ltd. 110 CC 31, this Board has held that in a family company any disturbance in the long held shareholding would amount to an act of oppression. Since in the present case, by the fraudulent issue of 63000 shares, the 2nd and 3rd respondents had disturbed the long held shareholding position and also had issued the shares in their favour solely to enrich themselves, the allotment of these shares should be held as illegal and invalid and therefore should be cancelled.
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