Share Allotment at Concessional Price is Oppressive Act against Existing Members: NCLT [Read Order]
The NCLT directed the Respondents to compensate the company for the difference between the fair value of the shares and the amount actually paid on the allotment, along with interest
The Mumbai bench of the National Company Law Tribunal Mumbai held that share allotment made at a concessional price is an oppressive act against existing members to whom no such allotment has been made. Mr. Ajay R. Tajpuriya and Manoj R. Tajpuriya, the Petitioners approached the National Company Law Tribunal, Mumbai-I (“NCLT”) alleging acts of…
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