CLB judgment on non issue of further shares to existing shareholders

The petitioners claiming to hold 4132 partly paid ordinary shares of Rs.100/-each and 3065 fully paid preference shares of Rs.100/-each in M/S Tinplate Dealers Association Private Limited ( the company) have filed this petition under Sections 397/398 and Section 111(4) of the Companies Act, 1956 (the Act) alleging various acts of oppression and mismanagement in the affairs of the company and seeking rectification of the register of members.  The main allegations relate to issue of further shares in the company in exclusion of the petitioners,  issue of bonus shares contrary to the provisions of law, removal of the petitioners 1 and 2 as directors of the company, appointment of new directors on the Board etc.  and they have sought for consequential reliefs.

BEFORE THE COMPANY LAW BOARD- PRINCIPAL BENCH , NEW DELHI

C.P. No 29 of 1996

In the matter of Companies Act, 1956- Sections 397/398 and 111(4)

And

Please become a Premium member. If you are already a Premium member, login here to access the full content.