During pendency of oppression petition no further issue of shares permissible unless proved to be in Companies interest

COMPANY LAW BOARD, CHENNAI BENCH Sharvani Energy (P.) Ltd. versus N. VenkateshwarRao KANTHI NARAHARI, JUDICIAL MEMBER C.P. No. 82 of 2011 C A No. 154 of 2012 DECEMBER  21, 2012 ORDER 1. The present company application has been filed u/s 403 of the Companies Act, 1956 (hereinafter referred to as “the Act”) r/w Regulation 44 of the Company Law Board Regulations, 1991 by the respondents praying this Bench to permit the Applicant No. l to increase its authorized share capital to Rs. 24.75 crore, allot further shares of a value of Rs. 12.50 crore and restrain the resp...