Search Results for "substantial shareholder"

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Search Results for "substantial shareholder"

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Supreme Court

Supreme Court Allows Revenue's Appeal, Holds Managing Agents' Group Controlling Over 75% Voting Power Excludes Company from 'Public Interest' Under Section 23A. Partners of Managing Agency Forming a Controlling Group Cannot Be Counted as Public for Purposes of Exemption Under Income-tax Act, 1922.

5 Dec 1967

The dispute arose under the Indian Income-tax Act, 1922, concerning the applicability of Section 23A to a company where the Income-tax Officer sought ...

High Court

High Court of Bombay Upholds Maintainability of Suit and Rejects Jurisdictional Objection in Shareholder Requisition Dispute. Court Holds That Shareholder-Proposed Resolutions Under Section 100 of Companies Act, 2013 Are Not Immune From Judicial Scrutiny and Section 430 Does Not Bar Civil Court Jurisdiction When NCLT Lacks Power.

26 Oct 2021

The litigation arose from a suit filed by Zee Entertainment Enterprises Ltd, a listed public company, against two institutional investors, Invesco Dev...

High Court

Bombay High Court Upholds Market Value Determination for Share Valuation in Oppression Case — Director's Rights Cease Upon Valuation. The court held that the market value determined by the Company Law Board for shares held by a minority shareholder was just and proper, and that the shareholder ceases to be a director upon valuation, not upon payment.

16 Jun 2005

The case involves two appeals filed against an order of the Company Law Board (CLB) dated 5.5.2003 in Company Petition No. 12 of 1998. The appellant, ...

Supreme Court

Supreme Court Remands Oppression Petition in Share Allotment Dispute Under Sections 397/398 of Companies Act, 1956 — Preference Shareholder's Voting Rights and Validity of Allotments Require Reconsideration. The Court held that the allotments were made in compliance with Section 81(1A) but the High Court failed to properly assess the allegations of oppression, necessitating a fresh hearing by the Company Law Board.

10 May 2019

The appeal arose from a judgment of the Delhi High Court which set aside an order of the Company Law Board (CLB) in a petition under Sections 397 and ...

High Court

High Court Sanctions Scheme of Amalgamation Between Transferor and Transferee Companies Despite Intervenor Objection. Non-Disclosure of Pre and Post Capital Structure in Explanatory Statement Did Not Invalidate Scheme When Shareholders Had Sufficient Information Under Section 393 of Companies Act, 1956.

31 Jan 2006

The transferor company, Chemidye Manufacturing Company Pvt. Ltd., and the transferee company, Thirumalai Chemicals Ltd., both engaged in similar chemi...

High Court

Bombay High Court Sanctions Reduction of Equity Share Capital of Organon (India) Limited — Scheme Approved Despite Objection Regarding Valuation and Fairness. Court held that the reduction was fair and reasonable, and the objection regarding valuation was not sustainable as the price was based on SEBI delisting guidelines and accepted by majority shareholders.

7 Jun 2010

The judgment concerns a Company Scheme Petition filed by Organon (India) Limited seeking sanction and confirmation of a special resolution passed by i...

High Court

High Court of Bombay Grants Direction Dispensing with Section 101(2) Procedure in Reduction of Share Capital – Interpretation of 'Any Other Case' under Section 101(2) and Discretion of Court. The court held that where reduction does not involve diminution of liability in respect of unpaid share capital or payment to shareholders, Section 101(2) does not automatically apply, and the court has discretion to dispense with creditor objection procedure under Section 101(3) in special circumstances.

10 Feb 2005

The applicant, Rallis India Limited, a public limited company, had merged four loss-making subsidiaries, resulting in an accumulated debit balance of ...

High Court

Bombay High Court Dismisses Shareholder Suit Challenging Director Appointments for Lack of Jurisdiction. Dispute Over Rights Under Articles of Association Falls Within Exclusive Jurisdiction of Company Law Board Under Companies Act, 1956.

24 Mar 2014

The suit was filed by shareholders of a banking company, Yes Bank, challenging resolutions relating to the appointment of directors and seeking declar...

Tribunals

NCLAT Dismisses Appeal by Shareholder Against CIRP Admission — Shareholder Lacks Locus Standi Under Section 61 IBC. The appeal filed by a shareholder against the order admitting a Section 9 petition by an operational creditor was dismissed as the shareholder is not an aggrieved person under Section 61 of the IBC.

19 Jan 2024

The present appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Romi Datta, a shareholder of Sahara Q Shop Unique P...

High Court

Bombay High Court Upholds Petitioner Company in Reduction of Share Capital Case Under Sections 100-104 of Companies Act, 1956. Court-Ordered Valuation Found Plausible; Minority Objectors Failed to Prove Unfairness.

9 May 2014

Cadbury India Limited filed a petition under Sections 100 to 104 of the Companies Act, 1956, seeking sanction of a special resolution for reduction of...

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