Monday, 10 February 2014

CLB allowed single shareholder to call EGM when other shareholders turned hostile and denied to coop

CL : Where there were only three shareholders of company, namely, petitioner and respondent Nos. 2 and 3 and petitioner despite being majority shareholder was unable to call a meeting of company due to non-co-operation of respondent Nos. 2 and 3, CLB directed that petitioner being a single member of company present in person or by proxy would be deemed to constitute requisite quorum for holding and conducting extraordinary general meeting of respondent company


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