Issue of shares to reduce shareholding of petitioner shareholder-company after removing its directors without any notice is per se oppressive

COMPANY LAW BOARD, NEW DELHI BENCH Daksha Infra Build (P.) Ltd. versus Rochees Resorts (India) (P.) Ltd. JUSTICE D.R. Deshmukh, CHAIRMAN C.P. NO. 76 (ND) OF 2009 Date of pronouncement:  03.10.2012 ORDER 1. The Petitioner, a real estate company has filed this petition under section 397, 398 r/w. Sec 402 & 409 of the Companies Act, 1956 (henceforth the Act) alleging acts of oppression and mismanagement in the Respondent No. 1 (henceforth the Company). 2. Admittedly the Petitioner held 24% shares in the company prior to the Board Meeting and the EOGM held in July 2009. It i...