The petitioners allegations that their group has been converted from a majority to a minority in shareholding and respondents representation in management has substantially been increased are found to be correct. In view of the continuous effects of such oppressive acts, to undo the effects and to regulate the affairs of the R-1-company in future, the present petition deserves to be allowed.
In a first of its kind action in the state, the Income Tax department has conducted surveys in small districts and unearthed tax evasion to the tune of close to Rs 18 crore. The department recently conducted a special drive and conducted raids at the business premises of firms in Tikamgarh district and found Rs 8 crore of undisclosed income. In another such action in the coal-rich belt of Singrauli district, the department unearthed undue tax evasions worth Rs 9.5 crore.
